Selling pressure weighs on Chinese stainless CRC prices

Prices for Chinese stainless cold-rolled coil weakened over the past week on selling pressure and a falling nickel market.

The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday May 19 at $17,702 per tonne, down by $240 per tonne from $17,942 per tonne a week earlier.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,500-17,100 yuan ($2,564-2,657) per tonne, narrowed downward by 200 yuan per tonne
Nickel futures decreased sharply late last week, which made some stockists more eager to sell.

The three-month LME nickel...

Published

Jessica Zong

May 20, 2021

07:29 GMT

Shanghai