POSCO, one of the leading steelmakers in South Korea, increased the price of 300 series stainless steel by 100,000 won (approximately $75) in September 2023 due to higher production costs from rising chromium, nickel iron and energy costs, as well as higher exchange rates.
400 series stainless steel prices remained stable.
In addition, POSCO stated that it will stabilize the supply of raw materials in order to balance domestic supply and demand.
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