[Steel Price] Major Chinese Mills Cut Stainless Steel Prices for August

By  Paul Ploumis 30 Jul 2015  Last updated at  23:51:30 GMT

BEIJING (Scrap Monster): Major Chinese stainless steel makers have announced their decision to lower the domestic prices for various products for the month of August. The steel makers who have decided to cut their prices include Baosteel Stainless. Meantime, Taigang Stainless, the largest stainless producer in China has decided to keep the August prices unchanged.

According to a press release issued by Baosteel, the domestic prices for 304 grade hot rolled and cold rolled stainless steel coils will see a price cut of RMB800/ton for August. After cut, the August prices for 304 grade hot rolled coils with thickness of 3mm will be RMB 12,400 per ton. Meantime, the prices for 304 grade cold rolled coils with thickness of 2mm will be RMB 13,400 per ton.

The company has also decided to cut the prices for 430 grade hot rolled and cold rolled stainless steel coils by RMB200 per ton to RMB 400 per ton. Post cut, the domestic prices for 430 grade hot rolled coils will be RMB 6,000 per ton and those for 304 grade cold rolled coils will be RMB 7,500 per ton.

On the other hand, Taigang Stainless has announced that the domestic steel prices for its graded stainless steel products will remain unchanged for the month of August. The prices for 304 grade hot rolled coils with thickness of 3mm-12mm will continue to remain at RMB 18,900 per ton. The prices for 304 grade cold rolled coils with thickness of 2mm will be RMB 19,900 per ton. Also, the prices for 304 grade medium plates with thickness of 16mm-20mm will be unchanged at RMB 20,700 per ton.

Also, Taigang Steel’s domestic price for 430 grade cold rolled coil with thickness of 2mm will be held steady at RMB 10,700 per ton in August.