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China’s spot stainless prices rise on nickel surge
July 03, 2014 - 11:39 GMT
China’s spot stainless steel prices edged up this week on rising nickel prices, although upward momentum was dulled by “aggressive selling” by certain large distributors, market participants said.
Benchmark 304 cold rolled coil traded at 17,500-17,700 yuan
($2,841-2,874) per tonne including VAT in the major Wuxi market
on Thursday July 3, up 100 yuan ($16) per tonne from Steel
First’s assessment last Friday. The three-month
nickel contract on the London Metal Exchange settled at $19,175
per tonne on Wednesday July 2, up 2% from $18,800 per...
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Euromoney Institutional Investor PLC.
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