China’s domestic stainless steel market has seen slight decreases in prices of 304 series products in the past week, while prices of other products have moved sideways.
Global nickel prices have fluctuated in an upward direction in the past week. On December 22, the three-month nickel price at the London Metal Exchange (LME) closed at $12,130/mt, while LME nickel inventory on the same date totaled 374,136 mt.
Overall trading activity in the domestic stainless steel market has been sluggish in the past week, while increases in inventories of some products have contributed to decreases in prices. Furthermore, traders have been more willing to offer discounts as the end of the year approaches. As for the coming week, it is believed that domestic stainless steel prices will be characterized by soft movement as nickel prices may soften and as traders are still trying to sell inventories.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,495 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,269 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,341 |
↓200 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,455 |
↓100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,000 |
1,511 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,314 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.56
