The price of cold-rolled stainless steel in Asia hiked in the previous week, supported by the rising nickel prices and the improvement in China’s purchasing market. The base price of cold-rolled 304 2B had a week-on-week increase of US$50.
In China, the domestic market was boosted by steel mills’ production restrictions and strong nickel and stainless steel futures. As China’s new export tariffs were expected not to be announced in September, the current inquiries are in a good condition. However, the stainless steel industry is still facing high shipping fees.
For Taiwan, the steel mills preferred to take a wait-and-see attitude since they have already received some orders for October shipments.
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