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China's 304 stainless steel price in Foshan keeps stable

11 Apr 2022 13:28 reported by Stanley Wang

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Currently, spot prices of stainless steel in Foshan markets are stable. Also, the price spread between steel mills has kept narrowing.

Compared with last year, the current spot prices of China’s private enterprises’ 304 cold-rolled coil are higher. There are two reasons. First, it was impacted by futures' trend of stainless steel. Second, the high cost of raw materials makes stainless steel’s prices hard to decrease.

Therefore, downstream buyers were not willing to stockpile. Low demands for stainless steel and Covid-19 reoccurrence in China will make trading corporations face a difficult situation.

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