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[Ferro-Alloys.com]South Korean steel giant Posco announced to cut its domestic prices for austenitic stainless coils by 100,000 won/ton for August due to weak market conditions during summer holiday, in spite of higher nickel prices.

It’s learned that the nickel prices at LME averaged at US$19,065/ton during July 1-25, rising by 2.64% from the average price of US$18,574/ton in June.

Meanwhile, Posco predicted that the average nickel prices in the third quarter of this year would increase to US$19,300/ton, higher than the average price of US$18,500/ton in the second quarter.

• [Editor:Yueleilei]