South Korea’s POSCO said Monday it would raise domestic prices of stainless steel by up to 7.1 percent in its second price hike in just one month to reflect improving demand and rising raw material costs. POSCO, the world’s No.6 steelmaker, said prices of hot-rolled stainless steel would rise by 7.1 percent, or 200,000 won, [...]

Current forecasts for stainless steel surcharges to be announced next week for August deliveries by European mills are expected to rise. The surcharges are calculated using several factors that include elements such as Nickel, Chrome and Molybdenum . They also have to incorporate an allowance for currency as many of these elements are traded on [...]

The term price for ferrochrome to Japan for July-September has been raised by 26% from the second quarter of this year, an official at Nippon Steel & Sumikin Stainless Steel Corp said on Thursday, its first increase in a year. The term price was lifted to 97c per pound, up 20c from the second quarter. The price [...]

ThyssenKrupp, Europe’s largest stainless steel maker, will have to find creative ways to dodge anti-trust bullets as it seeks an ally to cut stainless steel overcapacity in the region. ThyssenKrupp and rivals Outokumpu, ArcelorMittal and Acerinox have all racked up eye-popping losses in their stainless operations amidst a worldwide economic slump. Recession-driven consolidation is a must in [...]

Union workers at Vale Inco’s Sudbury nickel mine in Canada rejected the company’s final contract offer and will go on strike at midnight Sunday, the United Steelworkers union said on Saturday. Negotiations between Vale Inco — the nickel mining and processing division of Brazil’s Companhia Vale do Rio Doce — and its union broke [...]