China’s stainless steel demand continues fall

Domestic stainless steel prices continued their sharp drop in the week ended Wednesday November 10, with the low price attracting higher buying interest.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,300-19,500 ($3,019-3,050) per tonne, down by 500-700 yuan per tonne from a week earlier.
“Deals [have been] hard to conclude when prices [have been] above 20,000 yuan per tonne in the past few weeks, so sellers cut prices to attract buyers,” one seller in Wuxi said.
Stainless steel prices lost two months of growth.

A second seller in Wuxi said his customers have been much more active over the...

Published

Jessica Zong

November 10, 2021

11:27 GMT

Shanghai