Weak trading activity in Chinese domestic stainless steel market

Wednesday, 25 May 2016 14:47:17 (GMT+3)   |   Shanghai
       

China's domestic stainless steel market has indicated a downward price trend for some products, including 304 series, during the past seven days, while prices of some other products have moved sideways.

Global nickel prices have fluctuated on a soft trend during the past week, though the week-on-week decrease margins are small. On May 24, the three-month nickel price at the London Metal Exchange (LME) closed at $8,410/mt, while LME nickel inventory on the same date totaled 402,504 mt.
 
The downticks seen in the Chinese domestic stainless steel market in the past week have been due to the sluggishness of trading activity in the market. As for the coming week, it is believed that the domestic stainless steel market will mostly move sideways, with slight fluctuations possible.

 

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

10,300

1,570

0

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

Foshan

Guangzhou Lianzhong

7,000

1,067

0

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

Wuxi

Taigang

12,650

1,928

350

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

Wuxi

Taigang

12,300

1,875

350

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

Wuxi

Taigang

7,300

1,113

50

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

Wuxi

Krupp

6,400

976

0

All prices are ex-warehouse and include 17 percent VAT.
 
$1 = RMB 6.56


Similar articles

Flat steel prices in local Taiwanese market - week 16, 2024

18 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 15, 2024

11 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 14, 2024

04 Apr | Flats and Slab

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

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