14
Nov
09:03
Chinese stainless steel futures hit two-and-a-half year lows
Chinese stainless steel futures have been fluctuating lower since late August this year, and have hit new lows alongside spot prices. Collapsing nickel prices and weak demand are the main drags, Kallanish notes.
On the Shanghai Futures Exchange, the most-traded December 2023 stainless steel contract dived to CNY 14,080/tonne ($1,931/t), the lowest level in the past two and a half years. The figure is also 16.5% lower compared with the beginning of the year. Spot p…
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Anonymous
Very good overview of the weekly steel market.
Anonymous