China's stainless steel sellers cut their prices over the past week following the reduction of the country's value-added tax rates.
Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,400-14,800 yuan ($2,145-2,205) per tonne including VAT for the week ended Wednesday April 3, down 100 yuan per tonne from a week earlier.The VAT rate for the manufacturing sector including steel was lowered to...