Chinese stainless steel prices hit another new bottom

Chinese stainless steel prices continued to hit new bottoms in December. Market insiders do not see drivers for the rebound and do not expect further price falls. Competition among exporters is tough.

On Friday, December 13, most major Chinese mills were offering 304 cold-rolled coils (base thickness) at RMB 12,800-13,000/t (USD 1,760-1,787/t), down by another RMB 100-200/t (USD 14-27/t) from November 22, when previous SMR report was released. Continue Reading? Please click box below!