Chinese 304 series stainless steel prices decrease

Wednesday, 13 March 2019 17:33:13 (GMT+3)   |   Shanghai
       

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


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