The appreciation of the Chinese currency against the US dollar and the suspension of export offers ahead by several mills ahead of the Lunar New Year resulted in East Asian stainless steel prices rising slightly over the past week.
Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm cold-rolled coil was $2,250-2,320 per tonne cif East Asian ports for the week ended Wednesday February 7, widening upward by $20 per tonne from $2,250-2,300 per tonne cif a week earlier.Metal Bulletin's assessment of prices for benchmark 304 stainless hot-rolled sheet was $2,180-2,240 per tonne cif East Asian ports for the same period, widening upward by $10 per tonne week on week.Stainless steel prices did not surge as much as they did a week earlier because demand had softened ahead of the...