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China's SS price up 22% after hitting one-year low

Source: Mysteel May 18, 2018 09:16

The price of stainless 304/No.1 5mm hot-rolled coil in Foshan, one of China's core stainless trading hubs in South China's Guangdong province, has soared by Yuan 2,600/tonne ($413/t) or 22% as of May 16 - from the one-year low it hit on June 12 last year - and is now at Yuan 14,200/t in-warehouse including the 16% VAT, according to Mysteel's database. But the surge from last year's trough of Yuan 11,600/t is mainly due to the rise in raw materials prices and not the result of a huge change in demand.

The price of stainless 304/No.1 5mm hot-rolled coil in Foshan, one of China’s core stainless trading hubs in South China’s Guangdong province, has soared by Yuan 2,600/tonne ($413/t) or 22% as of May 16 – from the one-year low it hit on June 12 last year – and is