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China’s spot stainless prices rise on nickel surge

July 03, 2014 - 11:39 GMT Location: Shanghai

KEYWORDS: China , stainless , LME nickel , 300-series

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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