Slumping nickel futures sparked bearish sentiment in the stainless steel market, sources said.
The three-month nickel contract on the London Metal Exchange
ended the official session on Wednesday at $16,080 per tonne, down by $1,784 per tonne - or 10% - from $17,864 per tonne a week earlier
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi):
15,300-16,200 yuan ($2,352-2,490) per tonne, down by 300-700 yuan per tonne
Buyers cut their procurement rates from late last week until Tuesday amid expectations of further price decreases in response to...