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