Chinese stainless steel prices rise again, but participants see near-term pause

China's domestic stainless steel prices rose in the week ended Wednesday June 16, building upon gains accrued since late May, but market participants expect the upward momentum to halt in the near term.

One reason behind this bearish view is the weakness exhibited in nickel futures in recent days.
The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $17,519 per tonne, down by $803 per tonne (4.4%) from $18,332 per tonne last Friday.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,600-17,200 ($2,593-2,687) per tonne, up by 100-200 yuan per tonne

A major steel mill in eastern China increased supply of stainless steel to the...

Silver & Copper Supply Distortions Continue

Gold stocks down in risk-on shift

Gold stocks rocket on metal rebound and equities jump

Silver supply shortage continues

Several new entrants to TSXV large gold, including producer Asante