Chinese stainless steel prices mostly stable over Labor Day

Stainless steel prices in China were largely unchanged in the week to Wednesday May 6, with market participants in the country absent from May 1-5 for the Labor Day holiday.

The lack of major price movements in the cost of nickel was another factor contributing to steady stainless steel prices, sources said.
The three-month nickel contract on the London Metal Exchange has averaged $11,878 per tonne so far in May, compared with $11,824 per tonne in April.

Fastmarkets’ weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in Wuxi, was 12,900-13,300 yuan ($1,820-1,877) per tonne including value-added tax on Wednesday, widening upward by 100 yuan per tonne from 12,900-13,200 yuan per tonne a week earlier.


Jessica Zong

Lee Ken Kiat

May 06, 2020

11:06 GMT

Shanghai, Singapore