China’s domestic stainless steel prices fall on destocking pressure

China’s domestic stainless steel prices widened downward during the week ended Wednesday April 7 on selling pressure, though nickel prices increased.

The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $16,731 per tonne, up by $581 per tonne from $16,150 per tonne a week earlier.
The most-traded June nickel contract on the Shanghai Futures Exchange ended Wednesday’s trading session at 126,000 yuan ($19,251) per tonne, up by 5,350 yuan per tonne from 120,650 yuan per tonne a week earlier.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 15,100-16,100 yuan per tonne, widened downward by 200 yuan per tonne.

Steel mills are delivering their products to...

Published

Jessica Zong

April 08, 2021

05:38 GMT

Shanghai