China's domestic stainless steel market has seen both upticks and downticks in product prices during the past week.
Global nickel prices have fluctuated on an upward trend in the past week. On February 7, the three-month nickel price at the London Metal Exchange (LME) closed at $10,430mt, while LME nickel inventory on the same date totaled 383,292 mt.
In the week in question, some products in the Chinese domestic stainless market followed the trend of nickel prices and have moved on an upward price trend, while prices of other products have been impacted by the weak trading activity in the market and have declined. Demand has not yet recovered after the New Year holiday. It is believed that domestic stainless steel prices may mostly move on a stable trend in the coming week.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,900 | 1,441 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,700 | 1,412 | ↓100 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 16,900 | 2,460 | ↑400 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 16,550 | 2,409 | ↓200 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,300 | 1,354 | ↑400 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 9,500 | 1,383 | 0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.87