Import prices for stainless steel in East Asia dipped over the past week, pressured by soft regional demand and a downtrend in the nickel market, although some sellers in China were still reluctant to lower their offers.
Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,150-2,195 per tonne cif East Asian ports for the week ended Wednesday September 5, narrowing downward by $10 per tonne from $2,150-2,205 per tonne cif a week earlier.Metal Bulletin's assessment of import prices for benchmark 304 stainless trimmed hot-rolled coil was $2,040-2,110 per tonne cif East Asian ports for the same period, down $20 per tonne week on week.Several deals involving Chinese stainless CRC and HRC were heard to have been concluded within the respective assessment ranges.Trading activity had been sluggish in recent weeks amid thin buying interest in the region."Demand also diminished further because the slump in...