China’s domestic stainless steel market has mainly moved on a stable trend in the past seven days, though with slight upticks seen in prices of certain products.
Global nickel prices showed a fluctuating trend during past week and close price was slightly lower than last week. On March 08, the three-month nickel price at the London Metal Exchange (LME) closed at $8,600/mt, while LME nickel inventory on the same date totaled 427,248 mt.
The trend of the Chinese domestic stainless steel market has been mostly stable in the past week, though with minor upticks seen in prices of some products. While inventory levels were going down, overall trading activity has increased. With support from positive sentiment, it is thought that domestic stainless steel prices may increase further in the week ahead.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,100 | 1,551 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,000 | 922 | 0 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 12,000 | 1,843 | ↑350 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 11,500 | 1,767 | ↑300 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,750 | 1,037 | 0 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,100 | 937 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.51