It was reported that East Asian stainless steel import prices continued to rise last week. Among them, Indonesian export quotations rose while it was still lower than Chinese prices, so the prices gained favors from many buyers.

Market participants indicated that global manufacturing drove the demand for stainless steel, which supported the increase of stainless steel prices.

Several exporters have stimulated consumption by reducing their quotations of cold-rolled products. Besides, it was rumored that China's government will impose export tariffs to retain stainless steel in the domestic market. Therefore, some traders intended to increase exports before the policy introduction.