East Asian stainless steel prices rise on nickel rally

Import prices for stainless steel in East Asia rose over the week ended Wednesday July 17 after producers adjusted their asking prices upward in response to a rally in the price of nickel on the London Metal Exchange.

Following seven consecutive days of gains after July 5, the price of nickel, 3 months, LME Daily Official, ended the official trading session on July 16 at a 2019 high of $13,960-13,980 per tonne, compared with a year-to-date low of $10,525-10,530 per tonne on January 2.

The rebound in the nickel price was attributed to supply concerns,...


Lee Ken Kiat

July 17, 2019

12:55 GMT