|
Stainless steel market cold on down nickel prices and China’s price dip
|
Reportedly, stainless steel market has remained weak in last week due to down nickel prices and Chinese steel mills’ price dip.
The nickel prices in three months delivery at LME dropped by 2% to US$21,600/ton on last Thursday to hit the lowest level since last November.
At the same time, China’s Taiyuan Iron&Steel Group (Tisco) announced to decrease the stainless steel prices by RMB500~RMB1,000/ton averagely.
Dealers indicated that buyers have taken wait and see attitude toward market as Chinese steel mills’ price drop would affect Taiwanese steel mill’s new price policy for July.
Affected by these factors, it has brought uncertainty to stainless steel market.
News Date
6/20/2011 9:32:52 AM
reported by
Nann Cheng
|
|
|
|
|