China's domestic stainless steel prices have risen for a tenth week amid a strengthening nickel market and good downstream demand.
The
three-month nickel contract on the London Metal Exchange ended Wednesday September 2's official trading session at $15,671 per tonne, up by $594 per tonne (3.9%) from $15,077 per tonne a week earlier.
Fastmarkets' weekly price assessment for
nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,130-1,150 yuan ($165-168) per nickel unit on August 28, up by 50-70 yuan per nickel unit from 1,060-1,100 yuan per nickel unit on August 21.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,900-15,400 yuan per tonne, up by 200-400 yuan per tonne from
a week earlierTight supply...