THAI STAINLESS STEEL PRICE RISE
February 1st, 2004
BY MARK ROWE
THAILAND'S Thainox Steel Ltd has received approval from the country's Commerce Ministry to increase the price of its stainless steel by 28 per cent to Baht 105.94 per kilogramme (GBPounds 1.85). Steel product makers have been lobbying to have government-regulated price ceilings lifted, citing raw material costs that are at 10-year highs. Producers blame an increase in demand from China's thriving manufacturing sector, which has pushed steel prices higher across the world. The price rise takes effect immediately.
THAILAND'S Thainox Steel Ltd has received approval from the country's Commerce Ministry to increase the price of its stainless steel by 28 per cent to Baht 105.94 per kilogramme (GBPounds 1.85). Steel product makers have been lobbying to have government-regulated price ceilings lifted, citing raw material costs that are at 10-year highs. Producers blame an increase in demand from China's thriving manufacturing sector, which has pushed steel prices higher across the world. The price rise takes effect immediately.
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