Import prices for stainless steel in East Asia were largely stable this past week despite poor demand in downstream markets amid uncertainty caused by trade tensions between China and the United States.
Despite weak demand, suppliers are unlikely to reduce their asking prices in the near term, but that could change if the price of nickel continues its downtrend, a trader in East China said.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday June 19 at $11,950-11,955 per tonne, up by $80-125 per tonne from a close of $11,825-11,875 per tonne on June 12....