Stainless steel prices in East Asia fell slightly over the past week amid persistently low buying interest, although a few mills were still reluctant to lower their offers due to a spike in the nickel market.
Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,170-2,290 per tonne cif East Asian ports for the week ended Wednesday May 23, down $20-40 per tonne from a week earlier.Metal Bulletin's assessment of prices for benchmark 304 stainless trimmed hot-rolled sheet was $2,120-2,220 per tonne cif East Asian ports for the same period, down $20-50 per tonne week on week.Transactions involving Chinese stainless trimmed CRC were heard concluded at around $2,170-2,250 per tonne cif over the week, widening downward by $40 per tonne from $2,210-2,250 per tonne cif a week earlier. Bookings for stainless untrimmed hot-rolled coil from China were also made at $2,030-2,100 per tonne fob, widening downward by...