Current Scrap Metal Prices

Posco to cut stainless steel price for October

Korea’s Posco has announced that it will cut its domestic stainless price by 150,000 won/ton (US$126) for October, placing the blame on slipping raw material costs. The company’s 300 series HR price will drop to 3.25 million won/ton, while the price of CR will be decreased to 3.52 million won/ton. Posco is also expecting stainless steel demand to improve in the fourth quarter.

Global stainless steel output up in Q2

According to the International Stainless Steel Forum (ISSF), global stainless steel output has increased in the second quarter of 2009. China’s stainless steel output is up by 29.9 percent, is the highest among all. North America only increased by 1.9 percent, staying at the lower end.  The main factor determining the raising amount of stainless steel is the soaring nickel price, besides, strong demand emerged in China during from April to June.

YUSCO to cut stainless steel prices for October

Taiwan’s stainless steel maker, Yieh United Steel Corp. (YUSCO) announced to cut 300 series stainless steel prices today. The company will cut NT$3,000/ton for domestic market and US$80~100/ton for export market in October. Meanwhile, the prices of 400 series and 316L will be remained at the same level.

Source www.yieh.com