China’s stainless steel prices fall further on weak demand

China’s stainless steel prices continued to fall in the week ended Wednesday March 10 due to demand being subdued by a pessimistic outlook.

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.
Domestic
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...

Published

Jessica Zong

March 11, 2021

05:25 GMT

Shanghai