East Asian stainless steel prices fall on limited demand, trade headwinds

Import prices for stainless steel in East Asia declined over the week ended Wednesday May 15 because of low buying interest in a bearish market that followed the escalation of trade tensions between China and the United States.

China has announced that it will increase duties on $60 billion-worth of US goods from June 1, in a retaliatory action after the latter country raised tariffs on $200 billion-worth of Chinese products to 25%, from 10%, on May 10.
Grade-304 stainless steel CRC

Fastmarkets’ weekly import price assessment in East Asia for grade-304 2mm trimmed stainless steel cold-rolled coil (CRC), a benchmark product, was $1,930-1,990 per tonne cif on May 15....

Published

Lee Ken Kiat

May 15, 2019

12:55 GMT

Singapore