China’s domestic stainless steel prices surged rose sharply over the week to Wednesday September 23 amid tight supply and steady demand.
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,800-22,500 ($3,370-3,478) per tonne, up by 2,800 yuan per tonne from a week earlier
Prices have risen to their highest since September 2011.
Jiangsu province, a major stainless steel production hub, on Sunday released a notice about lowering industrial energy consumption and emissions. Among other things, local authorities told industries that their electricity consumption must not exceed that of the corresponding period of last year.