China’s domestic stainless steel prices dive on selling pressure

Domestic stainless steel prices in China dropped sharply in the week to Wednesday December 1 amid selling pressure and weak demand.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 17,400-17,600 ($2,732-2,763) per tonne, down by 900 yuan per tonne from a week earlier
Stainless steel mills dropped their list prices over the past week in an attempt to gain a bigger share of the market.
For instance, a major steel mill in eastern China offered stainless CRC at 17,700 yuan per tonne on Wednesday, down by 400 yuan per tonne from a week earlier.

A second mill in the region offered the product at 17,500-18,000 yuan per tonne on Wednesday, down by 700-1,000 yuan per...

Published

Jessica Zong

December 02, 2021

07:05 GMT

Shanghai