China’s domestic 304 series stainless steel prices have declined on week-on-week basis, with most other stainless product prices moving sideways.
Global nickel prices have fluctuated on a downward trend during the past week. On March 12, the three-month nickel price at the London Metal Exchange (LME) closed at $13,100/mt, while LME nickel inventory on the same date totaled 193,254 mt.
With the increases seen at the start of the past week being replaced by a downward trend, domestic 304 series stainless steel prices have softened week on week, influenced by the declines observed in nickel prices and the weakening of demand. Overall trading activity has been at low levels following the previous sharp price increases. No significant changes have been seen in inventory levels in the market. As for the week ahead, it is believed that domestic stainless prices may fluctuate on a slightly soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,490 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,326 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,750 |
2,347 |
↓150 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,250 |
2,273 |
↓300 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,222 |
↑100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,200 |
1,222 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.71
