China’s domestic stainless steel market has risen slightly during the past seven days.
Global nickel prices have moved upwards during the past week, while it is believed that nickel prices will edge upwards in the coming period. On January 30, the three-month nickel price at the London Metal Exchange (LME) closed at $13,350/mt, while LME nickel inventory on the same date totaled 359,292 mt
Overall trading activity in the domestic stainless steel market has improved slightly in the past week but still remains at low levels. Traders were mostly seeking to keep their prices stable in order to attract business but have been obliged to raise their prices slightly due to the increases in nickel prices. As for the coming week, traders are mostly focused on sales and are willing to offer some discounts, while it is thought that the stainless steel market may be mostly stable, with some slight decreases possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,585 |
↑100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,500 |
1,347 |
↑100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,900 |
2,504 |
↑100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,800 |
2,520 |
↑200 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,521 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,379 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.31
