China's domestic stainless steel prices were unchanged over the week ended Wednesday October 20, but market participants are expecting them to drop on increased supply.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 21,000-21,200 ($3,284-3,316) per tonne, unchanged from
a week earlier.
Demand for stainless steel was persistently week during the week, resulting in no change to prices, sources told Fastmarkets.
But prices started to soften on Thursday morning. Some sellers offered stainless CRC at 20,700-20,800 per tonne, down by 300-400 yuan per tonne from their offers on Wednesday.
"A Jiangsu-based stainless steel mill increased its deliveries to the spot market from Wednesday,...