Prices for AISI 304 stainless steel cold-rolled coils in Asian markets have risen slightly, driven by price hikes from upstream mills and increased spot market activity. Despite sluggish end buyers’ demand, market prices remain supported by cost factors.
Export offers from Chinese suppliers rose by approximately US$30/ton compared to the previous week. Market participants attribute this upward trend primarily to climbing raw material costs and improved purchases from Southeast Asia.
Conversely, high inventory in the Chinese domestic market continued to exert downward pressure on spot prices.
Regarding upstream raw materials, the price of Indonesian nickel pig iron (NPI) has edged up, largely due to new export inspection regulations implemented by Indonesian customs, which have impacted the flow of nickel product exports.