Chinese domestic stainless steel market moves on stable trend

Wednesday, 03 January 2018 17:24:03 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market has moved on a stable trend during the past seven days.

Global nickel prices have fluctuated in an upward direction in the past week. On January 2, the three-month nickel price at the London Metal Exchange (LME) closed at $12,620/mt, while LME nickel inventory on the same date totaled 367,776 mt.

Overall trading activity in the domestic stainless steel market has remained slack during the past week, while supply has improved following recent tightness and inventories are expected to increase. Current stainless steel prices are supported by nickel prices, while downstream demand may increase slightly ahead of the Chinese New Year holiday. As for the coming week, it is believed that the domestic stainless market will mostly fluctuate on an upward 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

9,900

1,523

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,400

1,292

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,900

2,446

0

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

16,050

2,469

0

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

9,600

1,477

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

9,700

1,492

0

 

17 percent VAT is included in the above prices.

$1 = RMB 6.50


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