ITSS announces first cut in 304 stainless export prices this year

PT Indonesia Tsingshan Stainless Steel (ITSS), the Indonesian production base of China's Tsingshan Holding Group, has lowered its export price quotes for 304-grade stainless products by $30/tonne. The reduction, announced Tuesday, is the company's first for the grade so far this year, Mysteel Global notes.

ITSS's price decrease followed a larger price cut declared by its Chinese parent company, Tsingshan, on the same day of a Yuan 300/tonne ($44/t) reduction in list prices for austenitic coils. The cut is the Zhejiang Province-headquartered company's deepest cut so far this year and is larger than its