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“We have already increased [...] our base price by €30 ($40) per tonne for September deliveries,” sales director of Marcegaglia’s stainless steel division, Egidio Bini, said.

A second base price rise of €30 ($40) per tonne is planned for stainless material to be delivered in October.

On Tuesday August 27, both Outokumpu and Acerinox announced they were raising prices, with the latter confirming it expects market activity to increase in September