Commodities Buzz: Lower Nickel Prices Forces Baosteel To Slash Prices of HRC

Nickel.......

Baosteel Stainless, the second largest stainless producer in China announced to cut its domestic prices for stainless steel coils by RMB200-RMB1000 per tonne for May deliveries due to lower nickel prices. The company decided to reduce its domestic prices for 304 grade hot rolled coils and cold rolled coils by RMB 800 per ton and RMB 1000 per ton respectively. Baosteel has also decreased its domestic prices for ferritic cold rolled coils by RMB200 per ton. Source by Commodity Insights