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:
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Nickle price keep increasing trend, 8thAug LME increased 3.51%, 10th Aug increased 1.16%
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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
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Chinese government is checking pollution strictly, some factory stop producing to make it comply with environmental protection policy.