China's domestic stainless steel market has mostly followed a stable trend during the past week.
Global nickel prices have fluctuated at low price levels during the last week, closing slightly lower week on week. On December 8, the three-month nickel price at the London Metal Exchange (LME) closed at $8,700/mt, while LME nickel inventory on the same date totaled 393,978 mt.
Traders in the domestic stainless steel market have been offering some discounts in the past week, though they have kept their quoted prices stable. Demand in the market has remained at low levels. As for the coming week, it is believed that domestic stainless steel price will remain mainly stable, with some slight fluctuations possible.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 9,800 | 1,524 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 5,950 | 925 | ↓50 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 12,000 | 1,866 | 0 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 11,400 | 1,773 | 0 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,450 | 1,003 | 0 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,500 | 1,011 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.43