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Posco hikes prices to match high costs

Aug 29,2009
Posco, Asia’s biggest stainless steel maker, will raise prices for stainless steel products by as much as 13 percent in September to reflect higher raw materials costs.

The firm will raise prices for 300-series products by 400,000 won ($321) per metric ton and 400-series products by 100,000 won per metric ton, according to a statement yesterday.

On Thursday, its smaller rival, Hyundai Steel Co., said it will raise prices for steel products including round bars by as much as 11.4 percent on Sept. 1 to reflect higher raw materials costs. Bloomberg




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