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As reported by Yieh.com, the price of 400 series stainless steel in China has skyrocketed recently. Due to rising prices for steel mills, 410 and 420 stainless steel in the Wuxi market is up 1,000 RMB per ton in a week.
Among them, the price of cold rolled stainless steel for the 430 series rose steadily in the range of 50 to 100 yuan per ton, and the price of hot rolled stainless steel for the 430 series also rose by about 1000 yuan per ton.
The main reason for the increase was due to high commodity prices, and the market expected that the problem of shortages of raw materials would be difficult to solve before the Chinese New Year, which could push prices up further.
