The welcomed stability still hasn’t emerged itself in the stainless steel market of South Korea during the first week of May.
In fact, POSCO has already released its latest quotation of May, which turned out to be the same as last month’s level. However, because the market demands kept shrinking, the sales performance of stainless steel still hasn’t become any better.
Taking all the factors above into consideration, in the short term the prices of South Korean stainless steel might not be able to bounce. Resources in the market also expressed their estimations of the downtrend that might possibly show itself in the market in May.