It is reported that China's spot stainless steel prices have dipped as the nickel prices slumped at LME cause by the concern on the US and European debt crisis.

Traders indicated that Taiyuan Iron & Steel Group's benchmark 304 series stainless cold rolled coil with 2B finish decreased by CNY 800 per tonne in the main Wuxi market.

It is known that the nickel prices in three months delivery slumped to USD 22,418 per tonne at LME to reach a 25 day low after Standard & Poor reduced the US debt rating to AA+ from AAA.

(Sourced from www.yieh.com)