TISCO plans to advance stainless steel price by U.S.$15-29 per ton

November 27 MetalBiz--Traders said that TISCO will adjust up the prices of 304 series and 430 series of stainless steel by 200 yuan per ton (U.S.$29 per ton ) and 100 yuan per ton (U.S.$15 per ton ) respectively. This round of price increase followed with the rally of spot market last week.

After adjustment, the prices of 3-12mm 304 series of HRC and 2mm 2B CRC increased to 19,520 yuan per ton (U.S.$2,858 per ton ) and 21.020 yuan per ton (U.S.$3,078 per ton ) accumulatively. The price of 430 series of 2B CRC boosted to 12,120 yuan per ton (U.S.$1,775 per ton). The aforesaid prices are valid in November 24-30, including 17 VAT.

With the price rally of nickel, the spot price of 304 series of HRC and CRC lifted by 100-300 yuan per ton in Foshan Guangdong last week.   

However, how long will the price rally of nickel and stainless steel sustain, which arouse people’ s question, as the nickel price continued to fluctuate in London Metal Exchange. After ending with U.S.$16,950-U.S.$16,955 per ton on November 23, nickel price is less than U.S.$17,000 per ton currently.

Industry insiders said that as the oversupplied stainless steel as well as weak demand, stainless steel price faces the pressure to go down and presently the situation of oversupply and demand downturn has not presented recovery signs