Chinese stainless steel exporters received more inquiries over the past week, which pushed prices upward, though the domestic market softened due to losses at the end of last week.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 20,700-21,000 ($3,284-3,316) per tonne, down by 200-300 yuan per tonne from
a week earlier Stainless CRC prices dropped to 20,700-20,900 yuan per tonne last Thursday on higher supply.
Steel mills had raised their production rates after they were able to secure more electricity supply amid a power crunch in the country, sources said.
But stainless prices went on to rise to 20,900-21,000 yuan per tonne on Friday after nickel futures on the London Metal Exchange surged on Thursday night Beijing time.
The three-month nickel...