Reportedly, the Chinese Shanxi based Taigang Stainless announced to cut its export prices for austenitic coils by US$100/ton in order to reflect lower nickel prices.

The official of Taigang Stainless stated that the price cut is mainly to reflect lower raw material prices. The demand has remained stable since late February.

Meanwhile, it’s known that Taigang’s major rival Baosteel has also announced to cut its export prices by US$50/ton on dropped nickel prices.

The nickel prices have dropped by US$1,000/ton in February.