East Asia's stainless steel market was relatively steady over the past week due to stagnant demand, with some buyers and sellers waiting on the sidelines for a clearer price trend to emerge.
Metal Bulletin's price assessment for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,240-2,300 per tonne cif East Asian ports for the week ended Wednesday June 20, down $10-30 per tonne from a week earlier.Metal Bulletin's price assessment for benchmark 304 stainless trimmed hot-rolled sheet was $2,250-2,290 per tonne cif East Asian ports for the same period, narrowing by $20-40 per tonne from $2,210-2,310 per tonne cif a week earlier.No deals were reported over the past week. Sources estimated that the workable prices for both products were within the respective assessment ranges.Trading activity slowed down further over the past week in comparison with a week earlier, particularly that for 300-series products, which include the assessed...