Downstream industry revival pushes up China’s domestic stainless steel prices

China’s domestic stainless steel prices increased slightly over the past week on rising demand from manufacturers, but a slower recovery elsewhere saw sellers from China and East Asia dropping their export offers to encourage buying activity.

Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,500-14,000 yuan ($1,926-1,998) per tonne, narrowing up by 100 yuan per tonne from a week earlier.
The recovery of downstream industries since the peak of the Covid-19 pandemic in the country earlier this year has helped to maintain stainless steel prices.

According to the latest data from China's National Bureau of Statistics: output of elevators and escalators was up by 15.9% year on year in June at 124,000...


Jessica Zong

July 23, 2020

09:06 GMT