China's domestic stainless steel market has mostly moved on a stable trend in the past week, though with some slight upticks seen in prices of certain products.
Global nickel prices have moved on a fluctuating trend during the past week, with prices slightly higher compared to one week earlier. On July 20, the three-month nickel price at the London Metal Exchange (LME) closed at $10,570/mt, while LME nickel inventory on the same date totaled 377,748 mt.
Although nickel prices have increased a little compared to one week ago, domestic stainless steel prices in China have remained mostly stable due to low trading activity, with hot and rainy weather conditions negatively impacting demand on the downstream side. Downstream buyers are currently resisting attempts to increase prices. As for the coming week, it is believed that domestic stainless steel prices will continue to follow a mainly stable trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
10,300 |
1,544 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,400 |
960 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
13,100 |
1,964 |
↑50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
12,500 |
1,874 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,100 |
1,064 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
975 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.67