It's reported that South Korean POSCO Specialty Steel announced to hike the domestic prices of austenitic wire rod and bar by KRW 100,000 per tonne for March 2012 delivery in response to higher input costs.

According to the official of POSCO Specialty Steel, the company decided to lift the domestic prices since its production costs have increased a lot, despite of weak demand.

Meanwhile, it's known that POSCO Specialty Steel remained its domestic prices of austenitic wire rod and bar unchanged for February 2012 because of sluggish demand from its local customers.

(Sourced from www.yieh.com)

(www.steelguru.com)