It’s reported that Korean POSCO Specialty Steel announced to cut its domestic prices for its austenitic stainless wire rod and bar by KRW 200,000 per tonne and KRW 100,000 per tonne respectively for April.
According to statistics released by the Korean Iron & Steel Association (KOSA), the country’s production of specialty wire rods totaled 105,700 tons in January, up by 3% from a month ago.
Meanwhile, the country’s output of specialty bars totaled 196,000 tons, rising by 23% from a month ago.
