Taiyuan Iron & Steel Group has raised the contract prices of austenite stainless steel by CNY 500 per tonne for domestic market for August 2011 delivery. The prices for ferrite stainless steel will remain unchanged however. The price hike for 300 series stainless steel is a reflection of rising nickel prices; the nickel prices at LME have jumped by USD 2000 per tonne since the middle of June 2011 until now.
