“Producers made minor adjustments to their stainless steel prices, if any at all, because the price of nickel has been mostly stable with only minor movements,” a steel processor source in eastern China said.
The three-month nickel contract on the London Metal Exchange
has averaged $14,001 per tonne so far this month compared with $13,851 per tonne in December.
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 13,800-14,700 yuan per tonne including value-added tax on Wednesday January 15, widening downward by 100 yuan per tonne from a week earlier
Participants and truck drivers have gradually exited the market ahead of...