Stainless steel products are popular for many and many years. But price has fluctuated for many times. In the year of 2016, price of steel raised greatly frequently in China. For example, price of 310S stainless steel bar has already raised to USD3500 per ton. Why this situation is showd?
Firstly, RMB reaches a new low of more than five years and reaching 6.9 close to the historical low
RMB against the U.S. dollar continued to decline 24, offshore below the 6.79 mark was close to the historical position. But China’s central bank still doesn’t want to guide the central parity of defense exchange rate or prevent it.
Secondly, Baosteel expects full year net profit growth of 6 to 8 times. As we know, Baosteel disclosure three quarterly show , the company in 2016 operating income of 133 billion 435 million yuan, attributable to shareholders of listed companies net profit of 5 billion 598 million yuan, which is very impressive. Data shows that the third quarter of Baosteel completed 6 million 748 thousand tons of steel production, steel production 6 million 934 thousand tons, up three quarter of last year to achieve profitability.
So please confirm order soon to avoid higher budget in future. We will give discount if you place 310S stainless steel bar.