Price Adjustment Due to the Raw Material

Since January 2021, due to the less supply of raw materials, the price of ductile iron has continued to rise by 15%-20%. Before February 2021, brass has reached RMB 70,000 per ton, and brass valves have increased significantly, with an increase of 30-50%. In June 2021, the price of stainless steel rose sharply. 304 stainless steel increased by 4000+RMB per ton in two weeks, and 316 stainless steel increased by 6500+RMB per ton in two weeks. Then it experienced a period of price stability, which lasted for about 3 months-price stable.

After September 22, 2021, China has begun to gradually enter the winter. Due to the impact of environmental protection in the north, foundry companies have gradually reduced their output. The price of ductile iron castings has ushered in a new round of increases. It is expected to increase by 3% on September 25 .Before September 30,based on the original price, it has increased by 6-7%. On September 24, 2021, China's major stainless steel foundry companies issued a statement that due to limited power supply, production restrictions, and rising raw material prices, the price of stainless steel will rise again. As of today, the price of stainless steel has risen by 6%.

Tianjin Tanggu General Valve Manufacturing Co., Ltd. is about to adjust the price due to the price of raw materials. We hope that customers can pay the advance payment as soon as possible. Otherwise, the negotiating order will be invalidated and the price will be adjusted. We will do our best to protect customer’s profit. The interests of the customers are also requested to make a decision as soon as possible and do not let themselves suffer losses.

Due to the recent unstable prices of raw materials, all product prices are subject to the quotation quoted by our staff on the same day. Thank you very much for your support and understanding.