China’s stainless steel prices fall on selling pressure

China’s stainless steel sellers cut both domestic and export prices over the past week in an attempt to generate more sales.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,200-14,900 yuan ($2,144-2,250) per tonne, down by 100 yuan per tonne from a week earlier.
Trading houses were actively selling stainless steel due to their pessimistic outlook for prices in of December.
A major stainless steel mill in eastern China has lowered its list price for grade 304 stainless hot-rolled coil by 500 yuan per tonne month on month to 13,500 yuan per tonne for orders booked in December.

“Lower stainless HRC prices will push...

Published

Jessica Zong

November 12, 2020

03:55 GMT

Shanghai