China's domestic stainless steel market has indicated minor fluctuations during the past seven days.
Global nickel prices have softened slightly in the past week. On March 7, the three-month nickel price at the London Metal Exchange (LME) closed at $10,645mt, while LME nickel inventory on the same date totaled 381,096 mt.
In the Chinese domestic stainless steel market, some traders have reduced their prices slightly in the past week in line with softer nickel prices, while other traders have raised their prices by small margins amid their positive expectations for demand. Overall trading activity has started to improve but still remains sluggish. As for the week ahead, it is believed domestic stainless prices may continue to indicate minor fluctuations.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 10,400 | 1,505 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,800 | 1,418 | ↑100 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 17,100 | 2,475 | ↓100 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 17,250 | 2,496 | ↑200 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,100 | 1,317 | ↓100 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 9,300 | 1,346 | 0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.91