Demand slackens in local Chinese stainless steel market

Wednesday, 20 January 2016 16:52:30 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market has mostly followed a stable trend in the past seven days, though with slight upticks or downticks also observed for prices of certain products.
 
Global nickel prices have indicated a slight rebound during the past week, while the room for further upward movement is considered to be limited. On January 19, the three-month nickel price at the London Metal Exchange (LME) closed at $8,580/mt, while LME nickel inventory on the same date totaled 452,742 mt.
 
While traders in the local Chinese stainless steel market are still focusing on sales, demand has continued to slacken due to the approach of the Chinese New Year holiday. As for the coming week, it is believed that domestic stainless steel prices may mainly follow a sideways trend. 

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

9,800

1,489

0

201/No.1 (3.0 x 1,219 x C)

Foshan

Guangzhou Lianzhong

5,900

897

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

11,750

1,786

100

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

11,100

1,687

0

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

6,650

1,011

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

6,100

927

↓100

 

All prices are ex-warehouse and include 17 percent VAT.
 
$1 = RMB 6.58
 


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