East Asian stainless steel prices fall due to declining nickel cost

Import prices for stainless steel in East Asia went down in the week ended Wednesday April 24 because market participants delayed purchasing decisions while waiting for more clarity about how the price of nickel would move.

The three-month nickel contract on the London Metal Exchange ended the official trading session on April 23 at $12,575-12,600 per tonne, down by $490-495 per tonne week on week. The price has fallen almost every day since April 9, when it closed at $13,250-13,270 per tonne. Fastmarkets’ weekly assessment of the benchmark import price for grade-304 2mm stainless...

Published

Lee Ken Kiat

April 24, 2019

12:45 GMT

Singapore