Stainless steel demand in China's domestic market, which is progressing at a slower pace than expected, is putting pressure on the commodity market.
According to the data recorded on the Shanghai Futures Exchange on March 21, the transition price index of cold rolled stainless steel decreased by 7% to RMB 14,915/t (USD 21.86).
Currency prices for rolled products decreased by 2.6% to RMB 15,875/t (USD 2,327) for delivery in April, while prices for delivery in May decreased by 5.4% to RMB 15,420/t (USD 2,260).
Spot prices for stainless steel flat products decreased by 1.3 percent to 7.4 percent in March, according to the Shanghai Metal Market.
According to Wuxi and Foshan Markets, prices for flat rolled products ranged from RMB 9,555 to RMB 16,235/ton, while prices for hot rolled products ranged from RMB 8,020 to RMB 30,860/ton.
According to market analysts, China's domestic economy, which has an important place in Asia's foreign trade, is currently reflected in its foreign trade.
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