Debut of SHFE’s new stainless steel contract not shaking Chinese spot market

China’s domestic stainless steel prices rose late last week on costlier nickel, and maintained those gains over the first three days of this week.

The start of trading of stainless steel futures on the Shanghai Futures Exchange on Wednesday September 25 had little effect on the spot market. Fastmarkets’ weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country’s major market of Wuxi was 15,700-16,000 yuan ($2,203-2,245) per tonne including value-added tax for the week ended Wednesday, up 200-300 yuan per tonne from...

Published

Jessica Zong

September 26, 2019

07:06 GMT

Shanghai