China’s domestic stainless steel prices continue to rise on mills’ bullish outlook

China’s domestic stainless steel prices maintained their upward momentum in the week ended Wednesday August 26, after major mills in the country sharply increased their ex-works prices.

Costlier nickel also provided support to the stainless steel market.
The three-month nickel contract on the London Metal Exchange ended Wednesday’s official trading session at $15,077 per tonne, up by $319 per tonne (2.2%) from $14,758 per tonne a week earlier.

Fastmarkets’ weekly price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,060-1,100 yuan ($154-160) per nickel unit on August 21, up by 30-50 yuan per nickel unit from 1,030-1,050 yuan per nickel unit on August 14.
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Published

Jessica Zong

August 27, 2020

07:44 GMT

Shanghai