Downward momentum grows in China’s domestic stainless steel market

China’s domestic stainless steel prices experienced a larger rate of decrease over the week ended Wednesday September 16 on dropping demand, although nickel prices remained strong.

The three-month nickel contract on the London Metal Exchange ended Wednesday’s official trading session at $15,183 per tonne, up by $330 per tonne (2.2%) from $14,853 per tonne a week earlier.
Fastmarkets’ weekly price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,170-1,180 yuan ($173-174) per nickel unit on September 11, up by 10-20 yuan per nickel unit from 1,150-1,170 yuan per nickel unit on September 4.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,400-15,100 yuan per tonne, down by 200-300 yuan per tonne from a week earlier

Buyers started to cut their procurement...

Published

Jessica Zong

September 17, 2020

04:58 GMT

Shanghai