It’s reported that Taigang Stainless, the largest stainless steel producer in China announced to hike its export prices for austenitic stainless steel coil by RMB180/ton, driven by higher domestic prices and improved demand.

After the adjustment, its export prices for 304 grade hot rolled coils with thickness of 3mm and cold rolled coils with thickness of 2mm are at US$2,350/ton FOB and US$2,480/ton FOB respectively for deliveries until the end of October.

The official of Taigang Stainless said that the domestic market prices have increased rapidly due to higher nickel prices, tight supply and better demand. Also, the company expected to receive more bookings this month.