China’s domestic stainless steel prices have continued to follow a mostly stable trend in the past seven days, though with some slight downticks also seen.
Global nickel prices have fluctuated in the past week and are now slightly higher compared to one week ago. On November 6, the three-month nickel price at the London Metal Exchange (LME) closed at $11,775/mt, while LME nickel inventory on the same date totaled 217,686 mt.
Overall trading activity in the Chinese domestic stainless steel market has remained at low levels in the past week, and so traders, who have generally kept their prices stable, have reduced prices slightly for some products and are willing to offer some discounts in order to close deals. As for the week ahead, it is believed that domestic stainless steel prices will again be mostly stable, with some slight declines also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,445 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,286 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,200 |
2,341 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,200 |
2,341 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,199 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,214 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.92
