China’s stainless steel prices rise on nickel gains

China’s domestic and export prices for stainless steel increased over the past week amid a strong nickel market.

The three-month nickel contract on the London Metal Exchange ended Wednesday July 8’s official trading session at $13,465 per tonne, up by $845 per tonne from $12,620 per tonne on July 1. This is the highest price since January 23.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,300-13,900 yuan ($1,897-1,983) per tonne, up by 100 yuan per tonne from a week earlier
The strengthening of the nickel market simulated trading activity in that for stainless steel.

Buyers raised procurement rates to...

Published

Jessica Zong

July 09, 2020

05:56 GMT

Shanghai