China's domestic stainless steel market has mostly moved on a decreasing trend during the past seven days, though some prices have moved sideways.
Global nickel prices have softened slightly. On December 27, the three-month nickel price at the London Metal Exchange (LME) closed at $10,410mt, while LME nickel inventory on the same date totaled 371,568 mt.
Domestic stainless steel prices in China have mostly softened in the past week against the backdrop of overall decreases in prices of steel products and raw materials in China, while stainless steel traders have been willing to reduce their prices in order to bring in cash before the end of the year. Traders have also been offering certain discounts, though trading activity has remained at low levels during the winter off-season. It is believed that there is only limited room left for further decreases in prices due to high costs. As for the week ahead, it is expected that domestic stainless steel prices may just indicate slight fluctuations.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,900 | 1422 | ↓100 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,800 | 1408 | 0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 17,700 | 2543 | ↓600 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 17,500 | 2514 | ↓600 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,900 | 1422 | ↓200 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 8,900 | 1279 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.96