China’s domestic stainless steel market has mostly followed a stable trend during the past seven days.
Global nickel prices have fluctuated at relatively low price levels during the past week, with prices slightly higher compared to one week earlier. On December 1, the three-month nickel price at the London Metal Exchange (LME) closed at $8,980/mt, while LME nickel inventory on the same date totaled 405,234 mt.
Overall trading activity in the Chinese domestic stainless steel market has remained slack in the past week, while traders still hold a negative view of the future prospects for the market. It is thought that the local stainless steel market in China may just indicate very slight fluctuations in the week ahead.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 9,800 | 1,531 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,000 | 938 | 0 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 12,000 | 1,875 | ↓50 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 11,400 | 1,781 | 0 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,450 | 1,008 | ↑200 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,500 | 1,016 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.40