Supply increases in Chinese domestic stainless steel market

Wednesday, 24 August 2016 17:28:01 (GMT+3)   |   Shanghai
       

China's domestic stainless steel market has indicated slight downticks in some prices in the past week, while other prices have moved sideways, with upticks seen for 201 series prices.
 
Global nickel prices have risen slightly compared to one week earlier. On August 16, the three-month nickel price at the London Metal Exchange (LME) closed at $10,275/mt, while LME nickel inventory on the same date totaled 373,548 mt.
 
Low trading activity and increases in supply and inventory have been the main factors contributing to the downticks seen in some product prices in the Chinese domestic stainless steel market in the past week. Though still at low levels, trading activity has shown signs of improving and is expected to increase further in the week ahead and to provide support for the stable movement of domestic stainless steel prices.

 

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

10,200

1,532

100

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

Foshan

Guangzhou Lianzhong

7,200

1,081

300

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

Wuxi

Taigang

13,400

2,012

0

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

Wuxi

Taigang

13,150

1,974

100

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

Wuxi

Taigang

7,150

1,074

0

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

Wuxi

Krupp

6,300

946

0

All prices are ex-warehouse and include 17 percent VAT.
 
$1 = RMB 6.66


Similar articles

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab

Local Chinese stainless steel prices stable or up slightly

04 Jan | Flats and Slab