Diverse price trends observed in Chinese domestic stainless steel market

Wednesday, 18 May 2016 16:33:45 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market has indicated declines in prices of 304 series products in the past seven days, while prices of other products have mostly trended sideways, though with some upticks in prices also seen.
 
Global nickel prices have risen slightly over the past week. On May 17, the three-month nickel price at the London Metal Exchange (LME) closed at $8,800/mt, while LME nickel inventory on the same date totaled 405,858 mt.
 
Domestic prices of 304 series stainless steel prices have softened in the past week amid weak trading activity and high inventory levels, though prices of some other products followed the upward trend of nickel prices. As for the coming week, it is believed that the domestic stainless steel market may fluctuate on a slightly soft 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

10,300

1,575

0

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

Foshan

Guangzhou Lianzhong

7,000

1,070

↑200

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

Wuxi

Taigang

12,950

1,980

350

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

Wuxi

Taigang

12,650

1,934

400

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

Wuxi

Taigang

7,350

1,124

0

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

Wuxi

Krupp

6,400

979

0

 

All prices are ex-warehouse and include 17 percent VAT.
 
$1 = RMB 6.54


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