It was reported that South Korean steelmaker POSCO announced recently that it will keep its stainless steel prices in December.

Due to affected by the decline in nickel prices, stainless steel prices in major international regions were weak. However, considering that the price adjustment will cause the stainless steel prices in South Korean domestic market to fall sharply, POSCO announced that it would keep its stainless steel prices unchanged in December in order to stabilize the domestic market.

In addition, the major South Korean manufacturers in the auto industry and home appliance industry with demands for stainless steel were in a downturn currently, and the low-price competition for imported materials was intense. Some industries and construction plans were expected to continue to negotiate about price