Amoot Iranian Trading Company

Trading activity in the East Asian stainless steel import market has started to regain momentum, although price movements were mixed over the past week and some participants remained pessimistic. Fastmarkets MB’s import price assessment for 304 stainless trimmed hot-rolled coil in the same region was $1,750-1,830 per tonne cif for the same period, down $5-55 per tonne week on week. Fastmarkets MB’s import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,880-1,960 per tonne cif for the week ended Wednesday January 9, widening from $1,8901,950 per tonne cif a week earlier. Deals involving stainless CRC from China were done at $1,960 per tonne cif, while Chinese stainless HRC was sold at $1,770-1,780 per tonne cif. The nickel market strengthened over the past week, but failed to prop up stainless steel prices. Nickel prices rebounded over the past week. Taiwanese stainless CRC were sold at $1,890-1,900 per tonne cif, while stainless HRC from the territory changed hands at $1,7901,800 per tonne cif. FIONA LAM SHANGHAI Chinese stainless steel prices flat amid trading lull China’s domestic stainless steel prices held steady for a second week amid low inventory levels and soft demand ahead of the Chinese New Year. One Japanese trader said that he had observed more trading activity over the past week. The three-month nickel contract on the London Metal Exchange ended Wednesday’s official trading session at $11,255-11,265 per tonne, up $730-735 per tonne from $10,525-10,530 per tonne a week earlier.