China’s stainless steel sellers cut prices to stimulate sales

Chinese traders of stainless steel reduced both their domestic and export prices over the past week to generate more sales, though the nickel market regained its strength in the past couple of days.

The three-month nickel contract on the London Metal Exchange ended Wednesday June 17’s official trading session at $12,948 per tonne. While this is $4 per tonne lower than a week earlier, it marks a $373-per-tonne recovery from Monday, when the contract fell to $12,575 per tonne.

Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,100-13,800 yuan ($1,884-1,955) per tonne, widened downward by 200 yuan per tonne


Jessica Zong

June 18, 2020

07:55 GMT