China's stainless steel sellers cut both domestic and export prices over the past week in an attempt to generate more sales.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,200-14,900 yuan ($2,144-2,250) per tonne, down by 100 yuan per tonne from
a week earlier.
Trading houses were actively selling stainless steel due to their pessimistic outlook for prices in of December.
A major stainless steel mill in eastern China has lowered its list price for grade 304 stainless hot-rolled coil by 500 yuan per tonne month on month to 13,500 yuan per tonne for orders booked in December.
"Lower stainless HRC prices will push...