South Korea’s POSCO announced that it will maintain the same prices for 300-series stainless steel. The company has kept the prices unchanged for three months in a row.

Recently, the LME nickel price surged to US$18,000/ton due to the limited nickel ore export quota in Indonesia. Although significant cost pressures rose, demand remained weak in the South Korean domestic market. POSCO finally decided not to adjust its stainless steel prices for January.

According to POSCO, they will closely observe international raw material prices. If cost pressures intensify further, they may consider adjusting the pricing strategy to offset the high raw material costs.