China’s stainless steel traders cut prices to secure more bookings

China’s domestic stainless steel prices have fallen over the past week, the first time since early August, with traders becoming more eager to offload their materials amid inventory pressure.

Metal Bulletin’s assessment of prices for benchmark 304 stainless cold rolled coil was 16,400-16,900 yuan ($2,503-2,579) per tonne including VAT in the major market of Wuxi for the week ended Thursday September 14, down 300-400 yuan per tonne from a week earlier.

As their inventories gradually grew amid continual...

Published

Jessica Zong

September 15, 2017

06:51 GMT

Shanghai