[Ferro-Alloys.Com]South Korean steel giant POSCO has announced to raise the October 2012 list prices for stainless steel products by KRW 200,000 per tonne in early October 2012, driven by rebounded nickel prices.

However, industry sources said that POSCO may fail the raise the prices as the South Korean stainless steel market turned weak again after the nickel prices dropped recently.

On October 15th 2012, the spot nickel prices on LME slumped by USD 1,400 per tonne to USD 17,200 to USD 17,205 per tonne within a week.

It's learned that the South Korean buyers have taken wait and see position as the nickel prices dropped.

• [Editor:editor]