Baosteel Stainless slashes July prices on weak spot market

摘要

Baosteel Stainless has slashed its prices for July production on falling nickel prices and a weakspot market, according to market participants. China's second-largest stainless producer will cut its 300 series prices by700yuan ($108) pertonne. The move follows Taigang Stainless Steel's recent price cuts. "Demand is weak; we cannot make a deal even ata price of 22,440 yuan pertonne," a trader in Wuxisaid.