China’s stainless CRC prices slide on destocking pressure

Domestic and export prices for Chinese stainless cold-rolled coil decreased slightly over the past week, with sellers maintaining their efforts to draw down their stock levels.

Falling nickel prices also weighed on the stainless steel market.
The three-month nickel contract on the London Metal Exchange ended Wednesday June 23’s official trading session at $12,592 per tonne, down by $382 per tonne from $12,974 per tonne on June 16.

Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,000-13,800 yuan ($1,838-1,951) per tonne, widened downward by 100...


Jessica Zong

June 24, 2020

11:45 GMT