2017-8-15 Stainless steel price crazy increased last week

    Stainless steel 304 price had benn increased around USD 180/ton last week, why the price is so crazy in 5 working days? Reasons as below:

1. Nickle price keep increasing trend, 8^thAug LME increased 3.51%, 10^th Aug increased 1.16%

2. Other raw materials, including steel billet, iron ore, pig iron, ferroalloys, coke, scraps etc.Increase a lot in the past week.

    3.  Chinese stainless steel market is short of supply now, big stainless steel mill drop the coil production

    4.  RMB appreciated a lot, which means same USD amount can buy less Chinese products. Exchange rate for USD to RMB changed from 6.76 to 6.66 in the past one month, it’s seldom for RMB apprediated so much in short time

5. Chinese government is checking pollution strictly, some factory stop producing to make it comply with environmental protection policy.

        That’s why the stainless steel price rised a lot last week. So if customer have order plan, it’s better to send potential order list to us first, then we will give our advise to catch the best order time for 201 304 316 stainless steel tube when their price down.