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Commodities

China trade conflict reverberates in Asian stainless steel market

Oversupply limits room for price rise, spreading anxiety in Japan

Oversupply of stainless steel in China is raising concerns among Japanese traders.

TOKYO -- Fears of a fall in stainless steel demand are expected to limit a recent rebound in Asian prices of the alloy, in one of the myriad ripple effects from the newly escalating U.S.-China trade conflict.

Stainless steel coil is currently trading at around $2,000 per ton in Hong Kong, up about 5% from the bottom hit in January. The benchmark price of the base material had plunged 20% from last summer to the beginning of this year, reflecting concerns about the trade war.

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