It's reported that Taigang Stainless, the largest stainless producer in China announced to cut the domestic prices for its stainless steel products by RMB300~RMB700/ton averagely for September.
After the adjustment, the firm's September domestic prices for 304 grade cold rolled (CR) stainless steel products are at RMB17,600/ton, falling by RMB700/ton; that for 304 grade hot rolled (HR) stainless steel products is at RMB17,500/ton, decreasing by RMB300/ton and that for 430 grade CR stainless steels at RMB9,500/ton, down by RMB400/ton.
Also, the firm decided to reduce its export prices by US$50~US$100/ton for August.