China’s Lianzhong Stainless Steel (Lisco)has set a floor price for 201 cold rolled stainless steel, and the company instructed their dealers should not sell any 201 grade cold rolled stainless coil below their floor price.

According to the official, the company increased its 201 grade CR stainless coil price by RMB200/ton on Wednesday.

Lisco also cut their subsidies to their dealer. The move is in order to prevent dealer lowering retail price and do further damage to the market.