China's domestic stainless steel market has mostly followed a stable trend in the past seven days, though with slight price decreases seen for some products.
Global nickel prices have fluctuated at low levels in the past week, while they are now slightly higher compared to one week earlier. On May 2, the three-month nickel price at the London Metal Exchange (LME) closed at $9,515/mt, while LME nickel inventory on the same date totaled 379,182 mt.
Overall trading activity in the domestic stainless steel market is still weak, though the relatively stable trend of nickel prices and the rebound in raw material futures prices have given traders confidence to keep their stainless steel prices unchanged. With trading activity unlikely to improve in the short term, domestic stainless steel prices are not expected to increase in the coming period. In the week ahead, it is thought that domestic stainless steel prices will mainly continue their stable trend.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,700 | 1,408 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 8,100 | 1,176 | 0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 14,300 | 2,075 | ↓100 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 16,300 | 2,366 | 0 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 8,200 | 1,190 | 0 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 8,400 | 1,219 | ↓400 |
17 percent VAT is included in the above prices.
$1 = RMB 6.89