World prices for the main types of stainless products remain unchanged

The world's largest stainless steel producers decided to keep the prices of their products unchanged over the next 2 months. Domestic prices in August for various grades of stainless steel will generally remain the same.

One of the main manufacturers of stainless steel products, the Chinese company Baosteel Stainless, has released an internal price list for August. According to a press release from the company, prices for 304 grade cold rolled coils for August have been reduced by RMB 1,400 per tonne. The company also decided to reduce the price of 304 hot rolled coils by RMB 1,400 per tonne. Meanwhile, prices for 400 grade stainless steel products will remain unchanged. (1 Chinese yuan = 0.1618 dollars)

In addition, Korean stainless steel maker Posco-Specialty Steel announced that domestic prices for austenitic stainless rods, wires and rebar will remain unchanged throughout August and even September. The company decided to keep prices flat despite the rise in nickel prices. Nickel prices on the London Metal Exchange (LME) have risen by nearly $ 400 per tonne over the past one month.

Prices for stainless steel products in the US, published by major manufacturers, remained largely flat in August, while they even declined slightly for some austenitic grades. Major US stainless manufacturers such as North American Stainless, ATI Allegheny Ludlum, AK Steel and Outokumpu have long held prices at two-year highs.