The largely rangebound nickel price on the London Metal Exchange also contributed to the stability of the stainless steel market, market participants told Fastmarkets.
The three-month nickel contract on the exchange
ended Wednesday’s trading session at $13,730-13,750 per tonne. The contract has largely traded within the $13,500-14,500 range since early 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 ($1,995-2,125) per tonne including value-added tax on Wednesday January 22, unchanged from a week earlier
Trading was sparse ahead of the Chinese New Year break, which resulted...