China's stainless steel export prices edge up despite sluggish demand

Export prices for Chinese stainless steel rose over the past week, with producers raising their offers amid a strengthening nickel market.

The three-month nickel contract on the London Metal Exchange is averaging at $17,593 per tonne so far this month, compared with August’s average of $15,661 per tonne. Buying interest was limited in the stainless steel market, however, with bearish factors such as rising inventory levels in China and thin profits for producers beginning to emerge Stainless cold-rolled coil Fastmarkets’ weekly export price assessment for stainless steel cold-rolled coil, 2mm grade 304, fob China was $2,010-2,070 per tonne on Wednesday September 25, up $20-30 per tonne from a week earlier. Chinese stainless CRC was heard offered at $2,040-2,100 per tonne fob over the week. This...

Published

Lee Ken Kiat

September 26, 2019

08:39 GMT

Singapore