Domestic stainless steel prices continued their sharp drop in the week ended Wednesday November 10, with the low price attracting higher buying interest.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,300-19,500 ($3,019-3,050) per tonne, down by 500-700 yuan per tonne from
a week earlier.
"Deals [have been] hard to conclude when prices [have been] above 20,000 yuan per tonne in the past few weeks, so sellers cut prices to attract buyers," one seller in Wuxi said.
Stainless steel prices lost two months of growth.
A second seller in Wuxi said his customers have been much more active over the...