East Asia stainless steel prices slide on thin trading, LME nickel decline

Import prices for stainless steel in East Asia fell over the week ending on May 7 amid a downturn in the London Metal Exchange nickel price and limited buying interest.

The LME three-month nickel contract ended the official trading session at $12,040-12,050 per tonne on May 7, down by $400 per tonne from the close on May 1. The LME nickel price hit a 2019 peak of $13,650-13,660 per tonne on March 6 before it dipped to current levels. Many buyers are awaiting further clarity on nickel’s price direction before making any procurement decisions, a source in Taiwan said. United States president...

Published

Lee Ken Kiat

May 08, 2019

14:55 GMT

Singapore