Reportedly, Korean Posco Specialty Steel (Posco SS) announced to remain its domestic prices for austenitic stainless wire rods and bars unchanged for June. However, Posco SS refused to disclose its sales prices.
It’s known that weak market condition and fierce price competition from low-priced imports from China in both local and export market have caused Korea’s output of special steel bars decreased substantially.
According to data released by the Korea Iron and Steel Association (Kosa), Korea’s output of special steel bars totaled 790,400 tons in the first four months of this year, falling by 9% year on year.