China's domestic and export prices for stainless steel moved up amid rising raw material costs.
Rising nickel futures on the London Metal Exchange led to an increase in the prices for nickel pig iron, a major raw material for producing stainless steel in China, sources said.
The
three-month nickel contract on the London Metal Exchange ended the official trading session on Monday at $12,334 per tonne, up by $539 per tonne from five days earlier.It declined over the next couple of days to end Wednesday's session at $11,996 per tonne.
Fastmarkets' price assessment for
nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 920-940 yuan ($130-133) per nickel unit on April 17, up by 25-30 yuan per tonne from a week earlier.
Domestic
Fastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in Wuxi was...