Chinese, East Asian stainless steel prices weaken amid S Korean AD probe

Prices for Chinese stainless steel softened over the past week on weak demand, while the wider East Asian market came under pressure from news of South Korea starting an anti-dumping probe on flat-rolled products in the segment from mainland China, Taiwan and Indonesia.

Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,300-15,100 yuan ($2,099-2,217) per tonne, widened downward by 100 yuan per tonne from a week earlier
Weak domestic demand, coupled with an expected drop in exports, put pressure on prices, sources said.
Restocking demand ahead of October 1-8 holiday to commemorate China's National Day did not emerge as as traders had expected. As such, some of them lowered their prices to stimulate buying interest.
High production rates also weighed on stainless steel prices.

Flat stainless steel producers produced 2.65 million tonnes of crude stainless steel in August, up by 100,000 tonnes from July, an industry analyst in Shanghai said, quoting a local industry information provider. September's output is expected to rise a further 100,000 tonnes to 2.75...

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