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Shanxi Taigang Stainless Steel raises prices for stainless steel

Asian profile media reports: Chinese Metallurgical Corporation «Shanxi Taigang Stainless Steel Co, Ltd.» (the leading manufacturer of stainless steel in the country) is planning to increase the cost of corrosion resistant metal for supply in September this year. According to the new price list the manufacturer, the price of cold-rolled stainless steel coil grade 304 increased for customers by 1.5 thousand. Yen per ton, and hot stainless steel coil will rise by 1.2 thousand. Yen per ton. Thus, after a long period of «marking time» and even reducing the cost of production, the organization's leadership finally changed strategy on pricing.

We recall that in late July, management «Shanxi Taigang Stainless Steel» decided to keep the existing stainless steel prices for August deliveries unchanged. And a month before the organization's leadership has reduced the cost of austenitic steel coils of its own production to 300 US dollars per ton. Such changes in the pricing of products by representatives of corporations associated with nickel quotations on the leading trading platforms, which in this period ranged from 13.5 thousand marks. Dollars per 1000 kilograms.

Earlier it was reported that «Shanxi Taigang Stainless Steel Co, Ltd.» in the first quarter of this year, compared to the same period of 2012, increased profitability related to the shareholders, at 37.87%. Thus, the profit of the enterprise for the period reached the mark of 255 million. RMB (equivalent to 41.3 million. Dollars). With regard to revenue from sales of «Taigang Stainless», their volume during this period increased by 10.97% to 25.124 billion. Yuan (equivalent to 4.07 billion. Dollars). Representatives of the corporation said that this year «Shanxi Taigang Stainless Steel Co, Ltd.» plans to increase stainless steel exhaust 9.7% compared to last year. For example, stainless steel production facilities in the metallurgical group in 2013 must reach the level of 3.4 mln. Tons, which is 0.3 million. Tons more than in 2012.

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