China's domestic stainless steel market has mostly moved on a slight downtrend during the past seven days.
Global nickel prices have fluctuated in a downward direction in the past week. On November 3, the three-month nickel price at the London Metal Exchange (LME) closed at $9,950/mt, while LME nickel inventory on the same date totaled 422,844 mt.
Traders in the Chinese domestic stainless market hold a negative view of the future prospects for the market. Many traders have chosen to reduce their product prices slightly in order to attract more business. However, the demand side is still characterized by a wait-and-see stance. As for the coming week, it is believed that domestic stainless steel prices may continue to indicate a slight downward movement.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,546 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,200 |
978 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
12,400 |
1,956 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
12,000 |
1,893 |
↓100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,250 |
986 |
↓50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
1,025 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.34