Chinese mills cut prices for stainless steel to stimulate demand

China’s domestic stainless steel market maintained its downward trend over the past week after mills lowered their list prices.

Fastmarkets MB’s price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-15,000 yuan ($2,041-2,156) per tonne including VAT for the week ended Wednesday November 28, down 500-600 yuan per tonne from a week earlier. Stainless steel producers lowered their ex-works prices over the past week in an attempt to stimulate sales, market sources said. Tsingshan Holdings, the largest such mill in China, on...

Published

Jessica Zong

November 29, 2018

05:12 GMT

Shanghai