Taiyuan Iron & Steel Group, the largest stainless steel producer in China, has announced to hike the domestic prices of stainless steel products for February 2012 deliveries in response to higher nickel prices, in spite of weak demand.

The firm decided to raise the February 2012 domestic prices of 300 and 400 grade stainless steel products by CNY 500 per tonne and CNY 150 per tonne respectively for February 2012.

Also, TISCO announced to raise the export prices of stainless steel products by USD 60 per tonne.

Earlier, Baosteel, the second largest stainless maker in China announced to cut its domestic prices of stainless steel products due to poor demand.

(Sourced from www.yieh.com)