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Sluggish stainless steel market in China last week

11 Jun 2007 17:43 reported by Kaka Shu

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The stainless steel market seems to be continuing sluggish in China due to the sharp fall of nickel future price on the LME last week, closing at US$42,900/MT last Thursday.

From the information of Wuxi and Foshan stainless steel markets, the prices for most of grades went down differently and most of dealers wait and see the changes of the market.

304 HR stainless steel fell much last week. For example, Baoxin's 304 price fallen by RMB1,300/MT than last Friday.

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