Stainless steel prices in China fell to their lowest level in more than 3 months due to low downstream demand and falling steel raw material prices.

Accordingly, the price of stainless steel for January delivery on the Shanghai Stock Exchange ended December 8 down 4.2% to 16,085 yuan/ton, the lowest closing level since September 2.
“December stainless steel output is expected to be quite high, while demand is low downstream,” GF Futures analysts said, adding that falling stainless steel and iron scrap prices are also helping. Reduce costs at factories.
Prices of other steel products on the Shanghai bourse also fell in this session, with the price of rebar – used in construction used – for May delivery down 2% to 4,350 yuan/ton; while hot rolled coil – used in cars and home appliances, fell 2.1% to 4,528 yuan/ton.
Prices of raw materials for steel production on the Dalian Commodity Exchange fluctuated in opposite directions. In particular, iron ore futures increased 1.5% to 659 yuan / ton, extending gains to the third day in a row, after gaining 4.2% in the previous session. The price of iron ore with 62% iron content imported into China (for spot goods) on December 7 increased by 7 USD to 111.5 USD/ton.

The price of coking coal also increased 2% to 2,056 yuan/t, while coking coal fell 1.3% to 2,917 yuan/mt.

T&G International Joint Stock Company

Address: 352 Hue Street, Le Dai Hanh Ward, Hai Ba Trung District, Hanoi

Hotline: 0345786803

Email: hrm@tginterjsc.com

Website: http://tginternationaljsc.com