South Korea's stainless steel prices keep rising
Time:Mon, 28 Jun 2021 06:42:00 +0800
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China steel mills' offers for hot-rolled stainless in the South Korean market have increased by US$200/ton from May. Local buyers said that the rising prices with China origin, increased ocean freight, and the possibility of China government imposing export taxes have caused the market trend to rise.
At present, the price of stainless 304 cold-rolled imported from China is higher than POSCO's June price. Market participants believed that if domestic prices continue to rise in July, local buyers supposed to purchase continuously in August.
However, China's export taxation policy is unclear, and problems such as insufficient shipping space still affect market changes.
