China’s domestic stainless steel market has moved upwards in the past seven days in terms of 304 series product prices, while prices of other stainless steel products have moved sideways.
Global nickel prices have followed a fluctuating trend in the past week, with prices slightly higher compared to one week earlier. On August 9, the three-month nickel price at the London Metal Exchange (LME) closed at $10,770/mt, while LME nickel inventory on the same date totaled 371,154 mt.
304 series product prices in the Chinese domestic market have moved upwards in the past week amid low supply and increases in producers’ quotations. Traders have had no choice but to follow producers’ increases, in spite of the sluggishness of trading activity. As for the coming week, it is thought that the domestic stainless steel market will move on a fluctuating trend, with some slight upticks in prices possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
10,300 |
1,554 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,400 |
965 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
13,400 |
2,022 |
↑300 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
13,000 |
1,961 |
↑350 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,100 |
1,071 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
980 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.63