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Stainless steel tube prices expected to rise

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Since February 2005 the price of nickel in the international market has increased strongly. The nickel price on the LME has been above the US$15, 000 per metric ton level for the most of this month. On February 21 the price increased another US$75/mt to US$15, 175/mt. The rising nickel price has caused the production cost of stainless steel to increase as well. Stainless steel mills have been forced to raise their prices for March due to the rising nickel price. This increasing will also push the price of stainless steel tube and pipe up. Most pipe mills have already started adjusting prices. (Feb. 27)
News Date 27 Feb 2006 14:58:50 reported by Nancy

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