Korean firm introduces nickel-free stainless steel

The Toronto Star

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.

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