Chinese domestic stainless steel market moves on upward trend

Wednesday, 11 October 2017 16:42:58 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have increased compared to pre-holiday levels.

Global nickel prices have moved upwards in the past week. On October 10, the three-month nickel price at the London Metal Exchange (LME) closed at $11,055/mt, while LME nickel inventory on the same date totaled 383,820 mt.

Domestic stainless steel prices in China have moved in an upward direction with the support of higher nickel prices, while overall trading activity in the stainless steel market has remained weak. Low market inventories have also provided some support for prices. As for the coming week, it is believed that domestic stainless steel prices may fluctuate at current levels.

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

10,800

1,639

↑100

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

Foshan/Lecong

Guangzhou Lianzhong

9,300

1,411

↑100

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

Wuxi

Taigang

16,400

2,489

↑500

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

Wuxi

Taigang

17,200

2,610

0

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

Wuxi

Taigang

10,100

1,533

↑150

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

Wuxi

Krupp

8,600

1,305

↑100

 

17 percent VAT is included in the above prices.

$1 = RMB 6.59


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