Chinese domestic stainless steel prices recover after losses earlier in the week

China’s domestic stainless steel prices were down on Wednesday August 25 compared with a week earlier, but the market had picked up after experiencing losses earlier this week.

Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,200-18,600 ($2,810-2,871) per tonne, down by 600-700 yuan per tonne from a week earlier
The three-month nickel contract on the London Metal Exchange ended the official trading session on August 19 at $18,450 per tonne, down by $562 per tonne from the day before.

The weakness in nickel exerted downward pressure on Chinese stainless steel prices, which decreased to 18,200 yuan per tonne on Monday, from 18,900-19,200...


Jessica Zong

August 26, 2021

04:20 GMT