Reportedly, the Chinese steel giant Baosteel announced to cut its export prices for austenitic stainless steel coils by US$100/ton due to lower nickel prices. The official of Baosteel stated that the company decided to cut austenitic stainless steel coils prices as the nickel prices had fallen after it company issued the prices last month. It’s known that nickel prices on LME had slumped by around US$1,000/ton over the past one month to US$13,460/ton on July 10th. Meanwhile, Baosteel remained its prices for ferritic coils unchanged as the ferrochrome prices kept stable.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65336&division=A1
