- Elevated production costs prompt major producers to raise offers
- Japan’s AD duties on Chinese, Taiwanese imports limit regional trade
SteelDaily: Asian stainless steel prices rebounded during the week ended 10 July 2026 as major exporters raised offers, supported by firmer pricing strategies. However, trading activity remained sluggish as seasonal demand weakened across key East Asian markets and buyers largely stayed on the sidelines.
Asian 304-grade cold-rolled (CR) stainless steel prices increased by $30/t w-o-w to $2,130-2,180/t CIF, while 304-grade hot-rolled (HR) prices also rose by $30/t to $2,020-2,070/t CIF. Although nickel prices have softened recently, stainless steel producers continue to face relatively high costs for nickel units, ferro chrome, energy, and logistics. Mills are continuing to attempt to pass part of these costs on to buyers.
Despite the price recovery, market participants pointed to limited spot transactions, with buyers restricting purchases amid the summer holiday season and cautious downstream demand.
The implementation of Japan’s provisional anti-dumping (AD) duties on stainless steel cold-rolled products from China and Taiwan has also weighed on regional trade flows. Effective 9 July, Japan imposed provisional AD duties ranging from 3.6% to 42.1%, which will remain in force until 8 November. The move is expected to further reduce shipments from China and Taiwan, particularly as Japan’s stainless steel imports had already declined nearly 20% y-o-y during January-May 2026.
Although products from Indonesia and Vietnam remain outside the scope of the provisional duties, market participants believe these suppliers are unlikely to significantly increase shipments to Japan in the near term due to stringent quality requirements and long-standing customer preferences for established brands.
China and Taiwan have already witnessed weaker export performance this year. China’s stainless steel exports declined 23.6% y-o-y to 1.61 mnt during January-May 2026, while Taiwan’s exports fell 19.1% to 358,900 t. The latest trade measures are expected to intensify competition among Asian exporters as suppliers seek alternative export destinations.
Meanwhile, Chinese export offers stabilised after two consecutive weeks of declines. 304-grade CR export prices remained unchanged at $2,250-2,320/t FOB, while 304-grade HR held steady at $2,180-2,250/t FOB. Market participants noted that shrinking export margins and relatively stable domestic prices have limited exporters’ ability to offer further discounts despite weak overseas demand.
Outlook
Asian stainless steel prices are expected to remain largely stable in the near term as exporters continue defending offer prices amid narrowing margins. However, seasonal demand weakness, cautious buying sentiment, and the impact of Japan’s provisional anti-dumping duties are likely to keep trading activity subdued. Competition among regional exporters may intensify further as suppliers look for alternative markets outside Japan.
Note: This article is published as part of a content exchange agreement between SteelDaily and BigMint.
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