China’s stainless steel prices rise on good domestic demand

China’s stainless steel prices increased in the week ended Wednesday March 23 on steady domestic demand, though export activity was down amid concerns over a possible reduction of the country’s export tax rebate.

Nickel prices picked up slightly, which gave additional support to stainless steel prices.
The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $16,183 per tonne, up by $136 per tonne (0.8%) from $16,047 per tonne a week earlier.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 15,200-16,100 yuan ($2,327-2,465) per tonne, narrowed upward by 200 yuan per tonne

Downstream industries have had a strong first two months of the year, and the manufacturing sector are producing at...

Published

Jessica Zong

March 25, 2021

06:49 GMT

Shanghai