East Asia's stainless steel prices weakened over the past week amid persistently low demand and nickel losses.
Metal Bulletin's assessment of prices for benchmark 304 stainless 2mm trimmed cold-rolled coil was $2,200-2,300 per tonne cif East Asian ports for the week ended Wednesday July 4, widening downward by $40 per tonne from the previous week.Metal Bulletin's assessment of prices for benchmark 304 stainless trimmed hot-rolled sheet was $2,180-2,280 per tonne cif East Asian ports for the same period, down $10-70 per tonne week on week.Trading activity was low with only a few deals reported over the past week.Orders for stainless trimmed CRC from China were placed at $2,180-2,230 per tonne fob, which is equivalent to about $2,200-2,250 per tonne cif East Asia, sources said.Stainless untrimmed hot-rolled...