Anticipation for export tariff returns in China's stainless steel market

Domestic and export prices for Chinese stainless steel prices rose sharply over the week ended Wednesday July 21 on tight supply, which led to increased expectations of an export tariff to ease the shortage.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-20,100 ($2,939-3,109) per tonne, up by 1,000-1,300 yuan per tonne from a week earlier
Prices have risen to their highest since March 2012 - a nine-year high.
Stainless steel mills in China have been instructed by the authorities to reduce their production rates to lower carbon emissions in the second half of this year and to keep this year’s output from exceeding that in 2020.

“Two steel mills have delayed some of my orders, causing my inventory to drop gradually,” a...

Published

Jessica Zong

July 22, 2021

06:55 GMT

Shanghai