China's domestic stainless steel market has indicated a slight downtrend in terms of prices of 304 series products during the past seven days, while prices of other products have mostly remained stable.
Global nickel prices have followed a fluctuating trend in the past week, with prices slight higher than one week ago. On December 29, the three-month nickel price at the London Metal Exchange (LME) closed at $8,750/mt, while LME nickel inventory on the same date totaled 445,368 mt.
Domestic prices of 304 series stainless steel products have indicated minor downticks in the past week because of low trading activity and as traders are trying to attract more business by reducing their prices slightly. As for the coming week, it is believed that minor price fluctuations will continue to be observed in the market.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 9,800 | 1,510 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 5,900 | 909 | 0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 11,800 | 1,818 | ↓100 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 11,100 | 1,710 | ↓300 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,550 | 1,009 | ↑50 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,200 | 955 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.49