In August 2023, Chinese stainless steel prices saw a slight increase, followed by a decline in September. The current situation in October is relatively stable.

The downstream demand and consumption are improving. The present inventory of downstream buyers was not high. Coupled with the increase in demand and reduced production, the consumption of inventory would be accelerated.

Currently, the decline in stainless steel prices has slowed down, with dealers experiencing minimal inventory pressure. In the context of steel mills' reduced steel production and accelerated downstream demand recovery, there is anticipation of a potential rebound in November.