China's modest LPR cut disappoints stainless steel, nickel sectors

The modest cuts to loan prime rates (LPR) of interest announced in China earlier this week were a blow to market expectations, and had a chilling effect across the stainless steel-nickel value chain, market sources told Fastmarkets on Wednesday June 21.

The central People’s Bank of China announced on Tuesday that it had cut two key policy rates, the one-year and five-year LPR, by 10 basis points each in an attempt...


Jessica Zong

Dylan Duan

June 21, 2023

12:55 GMT