Stainless steel prices in China fell over the past week amid lower raw material costs and a worsening novel coronavirus (2019-nCoV) pandemic.
A slump in the London Metal Exchange's nickel price was a major factor that led steelmakers to reduce their asking prices, sources said.Fastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 12,000-13,000 yuan ($1,691-1,832) per tonne including value-added...