Import prices for stainless steel in East Asia declined further over the past week after exporters continued to lower their offers amid pressure from stagnant demand and a slumping nickel market.
Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil was $2,040-2,110 per tonne cif East Asia for the week ended Wednesday October 31, down by $20-30 per tonne from a week earlier.Fastmarkets MB's import price assessment for 304 stainless trimmed hot-rolled coil was $1,890-1,980 per tonne cif East Asia for the same period, down $30-50 per tonne week on week.Bookings for Chinese cargoes were sparse...