It is understood that LME nickel prices hit a new high. Stainless steel price might continue upward trend for coming September.

LME nickel prices for 3-month closed at US$11,480/ton, standing highest in eight months since last December 13th .

Apart from the Nickel price upward, Electric furnace factors also faced a sharp cost upward for the raw material of electrode bar.

Another important factor is that the biggest stainless steel country China's price is increasing frantically, has been raised for more than US$200/ton in short term.
China's price trend has also given the market support to raise the price furt