China's domestic stainless steel prices continued to rise over the past week on low inventory levels and high production costs. Meanwhile, export prices were flat amid sparse trading.
A strong nickel market also supported stainless steel prices.
The
three-month nickel contract on the London Metal Exchange ended Wednesday July 15's official trading session at $13,555 per tonne, up by $90 per tonne from $12,465 per tonne on July 8.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,400-14,000 yuan ($1,915-2,001) per tonne, up by 100 yuan per tonne from
a week earlier.
Wuxi had 424,000 tonnes of stainless flat steel products on July 10, down by...