Taigang Stainless, the largest stainless steel producer in China announced to cut its domestic prices for austenitic hot rolled coils (HRC) and cold rolled coils (CRC) by RMB500/ton and RMB800/ton respectively for June in order to reflect lower nickel prices.
After the adjustment, its ex-work prices for 304 grade hot rolled coils and sheets with thickness of 3mm~12mm are at RMB16,600/ton; those for 304 grade cold rolled coils and sheets with thickness of 2mm are at RMB16,800/ton.
An official of Taigang Stainless said that the company decided to cut stainless steel prices for June as the prices of raw materials such as nickel have dropped.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=64567&division=A1
