On May 19, Spanish stainless steel producer Acerinox announced an increase of €100/mt in its prices due to the positive signs of recovery in demand.
Acerinox said in its statement, "The new increase, which will take immediate effect, will be for all shipments from stock and new production."
According to the statement, the increase in question covers all austenitic and ferritic grades, and follows an earlier price increase of €100/mt announced in April, which has been fully consolidated.
The Spanish company posted a net loss of €93 million in the first quarter of 2009, compared to a net profit of €66.7 million in the corresponding period of 2008.