China's domestic stainless steel market has mostly moved on a stable trend in the past seven days, but with slight downticks for 304 series products.
Global nickel prices have continued their downward trend during the past week, but with smaller decreases compared to the previous week. On May 26, the three-month nickel price at the London Metal Exchange (LME) closed at $12,650/mt, while LME nickel inventory on the same date totaled 463,800mt.
The slight decreases in prices of 304 series products has been due to the soft trend of nickel prices. Meanwhile, overall trading activity in the domestic stainless steel market has remained sluggish, with traders giving certain discounts in order to attract deals. Some small price decreases are expected to be seen in the local Chinese stainless steel market in the coming week.
Spec. | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No,1(3,0*120*C) | Foshan | Guangzhou lianzhong | 11,500 | 1,855 | 0 |
201/No,1(3,0*1219*C) | Foshan | Guangzhou lianzhong | 7,600 | 1,226 | 0 |
304/2B(1,0*1219*C) | Wuxi | Taigang | 14,500 | 2,339 | ↓100 |
304/No,1(3,0*1219*C) | Wuxi | Taigang | 14,100 | 2,274 | ↓100 |
430/2B(3,0*1219*C) | Wuxi | Taigang | 7,300 | 1,177 | 0 |
430/BA(1,0*1219*C) | Wuxi | Krupp | 6,900 | 1,113 | 0 |
17 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 6.20