China's stainless steel prices rise, but demand falls

China's stainless steel prices increased in the past week on gains in the nickel market, though trading activity fell as a result of the increases.

The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday January 6 at $17,828 per tonne, up by $990 per tonne from $16,838 per tonne a week earlier.
Domestic
Stainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,300-15,100 yuan ($2,213-2,337) per tonne, up by 200 yuan per tonne from a week earlier.
A trader in Wuxi said that his customers had cut their procurement rates this week.
Buyers expect stainless steel prices to drop on weaker demand.

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