China’s domestic stainless steel prices fall on weaker demand, nickel losses

China’s domestic prices for stainless cold-rolled coil dropped slightly over the week ended Wednesday December 2 on reduced demand and a weaker nickel market.

The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $15,906 per tonne, down by $122 per tonne $16,028 per tonne a week earlier.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,100-14,100 yuan ($1,996-2,148) per tonne, down 100-200 yuan per tonne from a week earlier.
Falling nickel prices led some stainless steel buyers to slow down their procurement rates and ask for lower prices.

A few sellers...

Published

Jessica Zong

December 03, 2020

05:10 GMT

Shanghai