South Korea's POSCO said that its talks with Thainox Stainless Pcl, on acquiring Southeast Asia's largest stainless steel producer are currently in unfavorable condition.

Mr Suh Young-sea senior VP in charge of stainless steel at POSCO in an interview with Reuters said that the delay in the talks has prompted POSCO to advance its decision to expand its Vietnamese stainless steel plant by 200,000 tonnes per year to the near future,

(Sourced from Reuters)