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North American Stainless to raise prices

24 Oct 2007 11:43 reported by Lisa Yao

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North American Stainless has announced to raise the price of stainless steel cold rolled products by US$5 cent/lb (US$100/ton) since 15 October.

Traders in this industry believe that the move is a way to stimulate the production order, in order to keep the balance between the stocks and the outputs in the future.

The contract price of CR sheets in 304 materials in October is about US$2.02/lb (including base price and additional charge), and it will raise to US$2.07/lb since 15 October.

It is said that the demands will come back and the additional charge will increase in November after reaching the bottom in October. Besides, the stocks of stainless steel products, especially the stainless steel medium plate and stainless steel rebar, are decreasing in September.

The inventories of CR sheets in September are reduced by 1.4 percent from last month.

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