East Asian stainless steel extends slump amid thin demand, lower offers

Import prices for stainless steel in East Asia maintained their downtrend over the past week despite nickel’s recovery, with Chinese and Taiwanese mills reducing their offers while weak currencies continued to stifle import appetite in the region.

Metal Bulletin’s assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,100-2,160 per tonne cif East Asian ports for the week ended Wednesday September 26, down $20-25 per tonne from a week earlier.
Metal Bulletin’s assessment of import prices for benchmark 304 stainless trimmed hot-rolled coil was $2,000-2,080 per tonne cif East Asian ports for the same period, down $10 per tonne week on week.

Trading remained sluggish over the week, partly due to many Asian participants exiting...

Published

Fiona Lam

September 27, 2018

05:10 GMT

Singapore