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Posco to Reduce Nickel Use in Stainless Steel on Volatile Prices

Posco, the world’s second-biggest maker of stainless steel, is seeking ways to cut its use of nickel because of volatile prices, an executive said.

The company will increasingly focus on so-called 400-series stainless products, which use ferrochrome as a raw material and are used in home appliances and cars, and other products that use less nickel, Suh Young Sea, a senior vice president of the Pohang, South Korea-based mill, said in an interview.