China’s domestic stainless steel market has mostly followed a stable trend in the past week, though with slight price fluctuations also seen.
Global nickel prices have increased slightly week on week. On December 12, the three-month nickel price at the London Metal Exchange (LME) closed at $11,065/mt, while LME nickel inventory on the same date totaled 375,564 mt.
Overall trading activity in the domestic stainless market has remained slack in the past week, though tight inventory still provides support for market prices. It is thought that supply may increase in the coming period and that traders may be more willing to offer discounts in order to boost their sales. For the coming week, it is believed that domestic stainless steel prices may mostly move sideways with some slight downticks, provided nickel prices do not indicate any large fluctuations.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,500 |
1,435 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,000 |
1,208 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,600 |
2,356 |
↑100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,432 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,450 |
↓50 |
|
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 6.62