Taiyuan Steel raises its stainless steel prices for South Korea

Shanxi Province-based Chinese steel company Taiyuan Steel Group has announced increased stainless steel prices for South Korea for June shipment.
 
Accordingly, Taiyuan Steel's offers of 304 grade stainless steel for the South Korean market have increased by $50/mt for June shipment. With this adjustment, Taiyuan Steel's prices of 304 grade hot rolled stainless steel and cold rolled stainless steel are now at $3,500/mt FOB and $3,700/mt FOB, respectively. Meanwhile, the steelmaker's offers of 430 grade cold rolled stainless steel stand at $1,700/mt, rising by $30/mt compared to offers for May shipment.
 
Taiyuan Steel has cited the continuous uptrend in the price of nickel as the reason for the adjustment of its stainless steel prices.