It is reported that South Korean steel giant POSCO announced to raise its list prices for austenitic hot rolled and cold rolled coils by KRW 200,000 per tonne for October 2012 contracts, in response to sharply rising nickel prices.

After the adjustment, the firm's list prices for 304 grade hot rolled coils would be at KRW 3.5 million per tonne and that for 304 grade cold rolled coils would be at KRW 3.77 million per tonne.

Meanwhile, POSCO kept the list prices for 430 grade HRC and CRC unchanged at KRW 2.04 million per tonne and KRW 2.42 million per tonne for October 2012 respectively.

Source - www.yieh.com)

(www.steelguru.com)