Korean firm introduces nickel-free stainless steel
Posco, the world’s fourth-largest steel maker, will raise output of a nickel-free stainless steel fivefold next year as the price of nickel has hit a record.
Posco plans to sell 10,000 tonnes a month of the steel, which it introduced this month, from 2,000 this year, the Pohang-based firm said yesterday. The steel, which uses chromium instead of nickel, is the equivalent of $2,762 (Canadian) a tonne, half the price of so-called 300-series cold-rolled coil steel.
Posco has raised stainless steel prices four times this year because of the cost of nickel.
Information from: www.thestar.com