China’s domestic stainless steel prices rise on nickel gains, but demand falls

China’s domestic stainless steel prices moved up over the week ended Wednesday May 2 on a strengthening of the nickel market, but demand weakened.

The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,173 per tonne, up by $975 per tonne from $17,198 per tonne a week earlier.
The most-traded July nickel contract on the Shanghai Futures Changed ended Wednesday’s trading session at 133,590 yuan ($20,933) per tonne, up by 8,170 yuan per tonne from 125,420 yuan per tonne a week earlier.

The most-traded July stainless steel contract on the SHFE moved in a similar fashion, ending Wednesday’s trading session at 16,125 yuan per tonne, up by 1,245 yuan per tonne from 14,880...

Published

Jessica Zong

June 03, 2021

08:40 GMT

Shanghai