It's been said: 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.