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.
According to industry insiders, the third quarter is the peak export of Philippine nickel ore. In the coming fourth quarter, the Philippines entered the rainy season again. At present, China's manufacturers are stepping up their nickel ore stockpiles. The tight s
