China’s stainless steel prices continued to rise last week due to rising production costs. Fastmarkets writes in a recent article.
Nickel rises significantly
The three-month nickel contract on the London Metal Exchange ended official trading Wednesday, Jan. 20, at $18,108 per ton, up $377 per ton from $17,731 per ton the previous week.
Stainless steel mills raise their ex-factory prices
Domestic cold-rolled stainless steel strip 2mm grade 304 domestic (Wuxi): 14,900-15,700 yuan ($2,303-2,427) per ton, up 300-400 yuan per ton from the previous week.
Stainless steel mills are losing money this month, so they have increased their ex-factory prices, sources said.
Source: metalbulletin.com
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