Asian stainless cold-rolled coil prices remained unchanged in the week to Jan. 20 as Chinese market participants were seen on holidays with the Lunar New Year break around the corner.

          Platts assessed 304 grade 2 mm 2B stainless CRC unchanged week on week at $2,600/mt CFR East and Southeast Asian ports Jan. 20.

          The official nickel cash price on the London Metal Exchange rose $1,722.50/mt or 6.5% from Jan. 12 to $28,172.50/mt on Jan. 19.

          “I think that Nickel will be rangebound with support at $26,000/mt and resistance at $30,000/mt; it is still relatively strong unless it breaks the $26,000/mt support level,” a stainless steel market analyst said.