China’s domestic stainless steel market has followed a stable trend during the past seven days.
Global nickel prices have fluctuated in an upward direction in the past week. On January 23, the three-month nickel price at the London Metal Exchange (LME) closed at $12,850/mt, while LME nickel inventory on the same date totaled 362,868 mt.
Overall trading activity in the domestic stainless steel market is still at normal levels, though improving somewhat in the past week. Stainless steel producers have reduced their production due to the approach of the Chinese New Year holiday, while some producers have already commenced maintenance works. The reduced output provides support for domestic stainless steel prices. Traders are still focused on selling inventory, while downstream demand has improved slightly. As for the coming week, it is believed that domestic stainless steel prices may still follow a mostly stable trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,552 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,317 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,461 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,461 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,505 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
9,700 |
1,520 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.38
