Stainless Steel Price Rise Drives up Tong Ming's Revenues

Supply and demand is out of balance coupled with stainless steel price surge. The surge led to a record high revenue in August for Tong Ming, and the same goes for the accumulated revenue of the first 8 months.

Stainless tell fasteners expert Tong Ming said the steel restriction order in China starting this winter causes the the supply to shrink dramatically. Additionaly, international iron ore price hike and rising nickel price pushed up the stainless steel price, and Tong Ming's effective distribution network helped boost the sales volume and price, driving up the revenues in total.