Domestic stainless steel prices in China narrowed downward slightly over the past week on rising inventories, though the market is not expected to weaken much further.
Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,000 yuan ($2,193-2,238) per tonne including value-added tax for the week ended Wednesday March 20, down 200 yuan per tonne on the top end compared with 14,700-15,200 yuan per tonne a week earlier.Stainless steel inventory levels in the spot market rose in the first half of this month due to producers stepping up their deliveries to traders and...