Chinese steel prices continue to decline

In June, the stainless steel market faced pressure and the price trend declined. As of June 25th, the mainstream price of 304 cold-rolled sheet was 12,650 - 12,900 RMB per ton, a decrease of 450 RMB per ton compared to the same period last month, representing a 3.40% drop, and a 7.91% decrease compared to the same period last year. During the statistical period, the stainless steel market was active in sales. Some large steel mills temporarily lifted price restrictions, and the price reduction was implemented to promote sales. In the future, the rejection of the mining ban bill in the Philippines and the increase in the arrival of nickel ore may weaken the cost support. Domestic stainless steel inventory pressure is relatively high, and the negative impact of the off-season consumption is also intensifying. The market will remain under pressure, and it is likely to continue to weaken in the short term.

Steel, as the core raw material for our metal product manufacturing, has seen a price drop, which directly leads to a reduction in our production costs. We have always been committed to providing customers with high-quality metal products while striving for excellent value for money. This price drop of steel has given us more room for cost control, and we will truly pass on this cost advantage to our customers.