China’s domestic stainless steel prices have mostly softened during the past seven days, with some prices also moving sideways.
Global nickel prices have continued their downward trend during the past week. On April 23, the three-month nickel price at the London Metal Exchange (LME) closed at $12,391/mt, while LME nickel inventory on the same date totaled 175,656 mt.
Domestic stainless steel prices have mostly softened during the past week since overall trading activity has been at low levels and as nickel prices have remained on a downward trend. Stainless steel producers have recently reduced their quotations, while supply volumes have continued to increase. Downstream demand is still sluggish. As for the week ahead, it is believed that domestic stainless steel prices may continue their mostly downward trend.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,533 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,450 |
1,257 |
↓50 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,050 |
2,240 |
↓100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,217 |
↓100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,220 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,100 |
1,205 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.72