It's reported that China's export prices of austenitic stainless steel products have dropped by US$50~US$100/ton in the middle of March, due to declined nickel prices and sluggish demand.
This week, the transaction prices of 304 grade hot rolled coil originated from China dipped to US$2,650~US$2,700/ton from US$2,700~US$2,850/ton in the middle of February.
At the same time, it's said that the major stainless steelmakers in China have all reduced the export quotes by around US$100/ton.
Meanwhile, the nickel spot prices at LME were at US$18,995/ton on March 12nd, dropping substantially by US$1,000/ton from that in the middle of February.