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.
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...


Jessica Zong

March 11, 2021

05:25 GMT