China’s domestic stainless steel market has mostly continued to soften during the past seven days.
Global nickel price have fluctuated on an upward trend in past week. On April 3, the three-month nickel price at the London Metal Exchange (LME) closed at $13,475/mt, while LME nickel inventory on the same date totaled 320,268 mt.
Trading activity in the Chinese domestic stainless market has been at normal levels in the past week. Approaching the end of March last week and also with the approach of the Tomb-Sweeping Festival in China (April 5-6), most traders have been more willing to reduce their stainless steel prices in order to attract more business, resulting in improved trading activity. In the past week, the local stainless steel market has received support from increases in nickel prices and the overall rises in the domestic steel markets. As for the coming week, it is believed that domestic stainless steel prices may move sideways, with some slight rebounds also possible.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,400 |
1,490 |
↓200 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,900 |
1,252 |
↓200 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,300 |
2,425 |
↓100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,750 |
2,496 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,150 |
1,450 |
↓100 |
|
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