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As reported by Yieh.com, cold rolled stainless steel prices in Asia rose due to higher nickel prices and the Chinese stainless steel market. Combined with improved market sentiment, the benchmark price for cold rolled 304 stainless steel in Asia rose $ 15 for the week.
Nickel price on the LME last week exceeded $ 20,000 per tonne. Nickel price on December 23 was $ 20,175– $ 20,180 per ton.
Due to the constant price spikes in the Chinese domestic market, prices were expected to be more stable ahead of the Lunar New Year. In addition, the current low level of inventories will also support the spot market and demand for raw materials.
