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China’s stainless steel futures turn strong, Indonesia’s Tsingshan hikes prices as well

20 Apr 2022 16:17 reported by Joy Liu

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China’s stainless steel market turned strong in recent days. Shanghai futures climbed for consecutive days, and Wuxi futures also rebounded yesterday. For the spot market, prices in Wuxi and Foshan, including grade 304 with the surface finish of No.1 and 2B, also rose back slowly recently.

Due to the bounce in China's stainless steel futures, tight supply of alloy raw materials, and some material sources being affected by transportation and production, Indonesia’s Tsingshan announced yesterday to raise its export offer by US$90/ton, while this price hasn’t returned to the high level reached in March.

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