ChineseBaosteel has announced to cut its export prices for austenitic stainless hot rolled coils by USD 50 per tonne for October 2012 while to remain its stainless cold rolled coils unchanged.

An official of Baosteel said that it decided to reduce the prices due to the overall gloomy economic environment and weak demand.

Meanwhile, Taigang Stainless, the largest stainless maker in China will going to release its new price policy for domestic and export markets. It's predicted that the firm might keep its prices unchanged.