Persistently low buying interest in East Asia, inventory pressures in China, and falling nickel prices continued to push down the region's stainless steel market over the past week.
Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed CRC was $2,090-2,180 per tonne cif East Asian ports for the week ended Wednesday March 28, down $70-80 per tonne from a week earlier. Metal Bulletin's assessment of prices for benchmark 304 stainless trimmed hot-rolled sheet was $2,070-2,150 per tonne cif East Asian ports for the same period, down $50 per tonne week on week.Bookings for Chinese stainless trimmed CRC were made around $2,160-2,170 per tonne cif, sources said. Deals involving China-origin stainless untrimmed CRC were also heard to have been concluded at $2,050 per tonne fob, which is equivalent to $2,090-2,100 per tonne cif for the trimmed product that Metal Bulletin...