Chinese domestic stainless steel prices have mostly decreased slightly in the past seven days.
Global nickel prices have fluctuated on a soft trend during the past week. On March 6, the three-month nickel price at the London Metal Exchange (LME) closed at $13,690/mt, while LME nickel inventory on the same date totaled 332,094 mt.
While overall trading activity has been at normal levels, domestic stainless steel prices have mostly indicated slight declines, mainly due to the decreases seen in nickel prices. Demand has not performed as well as anticipated, while most traders have been willing to offer discounts in order to attract more business. As for the coming week, it is believed that trading activity will improve and that nickel prices may move sideways or increase. Accordingly, it is believed that some upticks will be seen in domestic stainless steel prices in the coming week, though prices increase margins will likely depend on the trading volume.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,566 |
↓100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,329 |
↓100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,800 |
2,500 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,532 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,500 |
1,503 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,377 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.32