According to report, the South Korean domestic stainless steel spot prices for cold rolled coils (CRC) remained on higher level over the past two weeks on strong nickel prices.
Currently, the prices for 304 grade CRC are around 3.3 million~3.4 million won/per ton, about KRW 200,000 per ton higher from mid-September.
However, the future market is still facing the uncertainty due to the global economic downturn.
The nickel price has rose about more than US$2,500/ton from the early September.
Posco hiked the price for October as it reduced the discounts for local distributors and it is believed the domestic demand will be also up for the rest of year