Posco to Reduce Stainless Steel Prices in May on Nickel Costs

Bloomberg reports that Posco (SEO:005490), the world’s second-biggest maker of stainless steel, will cut domestic prices of stainless steel products.

The market news is quoted as saying,

Prices of 300-series hot-rolled coil will fall by 2.5 percent to 3.9 million won ($3,638) in May, the Pohang, South Korea-based company, said today in an e-mailed statement. Prices of the 300-series cold-rolled products will drop by 2.3 percent to 4.17 million won, it said.

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