First Time This Year! Huaxin Reduces Stainless Steel Plate Prices by NT$1,000-3,000 per Ton in July

Source: Yaogang Online

Recently, the 3-month futures and spot prices of nickel at the London Metal Exchange (LME) have fallen across the board. Huaxin believes that there is uncertainty in the stainless steel market and announced on the 27th, reflecting the decline in raw material prices, to reduce the July 300 series, including copper-priced stainless steel plate prices by NT$1,000 to NT$3,000 per ton, marking the first price reduction of stainless steel plate prices this year.

Huaxin stated on the 27th that Europe and the United States have entered the summer vacation season, with economic activities slightly slowing down, and there is uncertainty in the stainless steel market. The European Union and Canada have already cut interest rates in June, which is expected to support demand. Considering the overall competitiveness of customer orders and moderately reflecting the decline in raw material costs, the July stainless steel plate prices have been adjusted.

Huaxin's 300 series stainless steel is reduced by NT$3 per kilogram in July, equivalent to a reduction of NT$3,000 per ton; copper-priced stainless steel is reduced by NT$1 per kilogram, equivalent to a price reduction of NT$1,000 per ton; the 200 series and 400 series stainless steel remain flat.