East Asian stainless steel prices end decline on nickel uptick, China’s domestic gains from trade war truce

Import prices for stainless steel in East Asia inched up over the past week following a months-long slump, with support coming from a rebound in the nickel market and an increase in local Chinese prices which came after the United States gave a 90-day reprieve on potential new tariffs against China.

But regional buying interest for stainless steel remained thin, which dampened trading activity and would be unlikely to support the higher prices in the coming weeks, market sources said. Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,910-1,990 per tonne cif East Asia for the week ended Wednesday December 5, widening upward by $10 per tonne from a week earlier. Fastmarkets MB's import price assessment for 304 stainless trimmed hot-rolled coil in the same region was $1,830-1,860 per tonne cif East Asia for the same period, up by $30-50...

Published

Fiona Lam

December 06, 2018

03:48 GMT

Singapore