Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi)
: 14,500-15,200 yuan ($2,157-2,261) per tonne, widened downward by 100 yuan per tonne from a week earlier
The three-month nickel contract on the London Metal Exchange
fell steadily from October 22 to Monday and ended Monday’s official trading session at $15,418 per tonne, down by $683 per tonne (4.2%) from $16,101 per tonne on October 21.
The decline in nickel prices resulted in lower buying interest in the stainless steel market because buyers were expecting stainless steel prices to also drop, thus held back from purchasing. But LME nickel prices...