China’s domestic stainless steel market has followed a declining trend during the past seven days.
In the past week, global nickel prices first fluctuated and then declined sharply. On November 14, the three-month nickel price at the London Metal Exchange (LME) closed at $11,780/mt, while LME nickel inventory on the same date totaled 379,590 mt.
The soft trend of the domestic stainless steel market in the past week has mainly been due to lower nickel prices. Trading activity improved a little after prices decreased but still remains sluggish. As for the coming week, it is believed that domestic stainless steel prices will fluctuate on a declining trend, though big price decreases are not anticipated.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,493 |
↓400 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,267 |
↓400 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,368 |
↓500 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2,466 |
↓600 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,100 |
1,523 |
↓100 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,312 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.63