Liaoning Province-based stainless steel producer Fushun Special Steel has announced that as of February 7 its 1-3Cr13 stainless steel prices have increased by RMB 300/mt ($46.4/mt) compared to prices on February 6 to RMB 11,100/mt ($1,720/mt) due to the rises seen in ferrochrome prices. All prices are on ex-works basis. Prices include 13 percent VAT.
In 2018, Fushun Special Steel went through bankruptcy restructuring under the aegis of Shagang Group. In 2019, the company registered a net profit of RMB 302 million, while in the first three quarters of 2020 it posted a net profit of RMB 404 million, up more than 132.57 percent year on year.
$1 = RMB 6.4533
