Baosteel reduces stainless steel prices by $ 100

According to the largest metallurgical company in China Baosteel, the selling prices for austenitic stainless steel will be reduced by $ 100 per ton due to a decrease in nickel prices.

As you know, the price of nickel on the London metals exchange (LME) fell sharply over the past month. The decrease in the nickel exchange price reached $ 1,000 and today a ton of this metal costs no more than $ 1350.