China’s domestic stainless steel sellers seek out pre-holiday transactions

China’s domestic stainless steel prices widened downward in the week to Wednesday February 3 because some traders were looking to conclude more sales before the Chinese New Year.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,900-15,900 yuan ($2,307-2,461) per tonne, widened downward by 200 yuan per tonne from a week earlier.
End-user demand for stainless CRC is expected to be strong after the Chinese New Year holiday, which led some traders to lower their prices to get buyers to stock up.
China is marking the festival with a public holiday over February 11-17.

But other traders maintained their prices due to the high costs they incurred for material in their...

Published

Jessica Zong

February 04, 2021

09:11 GMT

Shanghai