China’s stainless steel supply tightens amid coronavirus-related transport disruptions

Deliveries of stainless steel in China have been disrupted by an outbreak of Covid-19 in the major production hub of Fujian, but the resultant tightened supply failed to support stainless steel prices in the week ended Wednesday September 15.

Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-19,700 ($2,949-3,057) per tonne, down by 300-500 yuan per tonne from a week earlier
The number of new Covid-19 cases in eastern China’s Fujian province has risen quickly over the past five days; confirmed cases totaled 200 on Wednesday, from only one case on September 10, according to the provincial health commission.
A number of ships and trucks have been required to undergo Covid-19 testing before leaving Fujian in an effort to contain the spread of virus, which is causing longer delivery times, sources said.

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Jessica Zong

September 16, 2021

04:26 GMT