Stainless steel prices continue downward in China
Stainless steel prices in Southern China decreased further by $59-102/tone for all grade during the last week because of weakening stainless steel demand and softening nickel prices during the early of June. On 11 June, prices of grade 304 hot rolled coil down to $2,752-2,781/tonne, while prices of grade 304/2B cold rolled coil dipped to $2,825-2,869/tonne. Furthermore, Chinese traders believed that stainless steel prices may dropped further by $59-117/t, if nickel prices do not rebound by the end of this week.
