China stainless steel export prices stable amid sluggish demand

Export prices for Chinese stainless steel remained flat week on week despite the uptrend in the nickel price because producers are unable to achieve any price hikes due to poor market demand, market sources said.

Uncertainty around whether Indonesia would bring its ban on exports of unprocessed nickel ore forward, which is currently scheduled for 2022, contributed to the recent surge in the London Metal Exchange’s nickel price. The three-month nickel contract on the LME has averaged $15,422 per tonne so far in August, compared with the July average of $13,515 per tonne. Stainless cold-rolled coil The weekly Fastmarkets export price assessment for stainless steel cold-rolled coil, 2mm grade 304, fob China was $1,980-2,000 per tonne on Wednesday August 21, unchanged from a week earlier....

Published

Lee Ken Kiat

August 21, 2019

12:00 GMT

Singapore