Import prices for stainless steel in East Asia weakened further over the past week amid low buying interest and a continued slump in the nickel market, although tight supply in China provided some support.
Metal Bulletin's assessment of import prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,140-2,195 per tonne cif East Asian ports for the week ended Wednesday September 12, widening downward by $10 per tonne from a week earlier.Metal Bulletin's assessment of import prices for benchmark 304 stainless trimmed hot-rolled coil was $2,030-2,100 per tonne cif East Asian ports for the same period, down $10 per tonne week on week.Deals involving Chinese stainless HRC were heard concluded at around $2,050-2,080 per tonne cif. No bookings were reported for stainless CRC from China, although traders believe the workable range for the product is around $2,140-2,195 per tonne cif.Offers for stainless CRC from Chinese mills and stockists stood at $2,155-2,220 per tonne cif while those...