China's stainless steel price hikes further
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Update time : 2020-08-22 17:45:01
Tsingshan announced to increase its stainless steel price by RMB1,500/ton yesterday. The ferronickel price also rose the second time during this week.
The mainstream ex-factory price of high-nickel iron quickly reached more than US$1,100/ton these couple days, a cumulative surge of US$80/ton within this week. The main reason for the high nickel price was the continuous rise in nickel ore prices. The Philippines' 1.5% nickel ore price has risen rapidly by US$11-12/ton compared with mid-July.
Stimulated by the high raw material cost, Tsingshan decided to increase RMB1,500/ton this time which was a new record.
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