It is reported that Taigang Stainless, the largest stainless steel producer in China announced to cut its domestic prices for austenitic stainless steel coils by CNY 700 per tonnne in order to reflect lower nickel prices and decreased stainless market prices.
After the adjustment, its ex-work prices for 304 grades hot rolled coils/sheets with thickness of 3 mm to 12 mm are at CNY 15,900 per tonne, those for 304 grade cold rolled coils/sheets with thickness of 2 mm are at CNY 16,100 per tonne.
Meanwhile, Taigang Stainless remained its list prices for 430 grades CR coils/sheets with thickness of 2mm unchanged at CNY 10,500 per tonne for July