Reuters reported that Spain's Acerinox has raised cold roll and hot roll flat prices for its North American Stainless unit by 5% to 6%.

Acerinox led the European market by announcing steel price rises of EUR 100 a tonne in April and then another rise by the same amount in May. Following the first price rise, its base price for a tonne of AISI 304 benchmark stainless steel stood at around EUR 1,050.

Acerinox said last month that further rises would take months rather than weeks as the company tries to avoid choking off a possible recovery after a global economic slowdown slashed demand.

(Sourced from Reuters)