Prices in the China’s domestic stainless steel market have mostly declined compared to one week ago.
Global nickel prices have fluctuated on a downward trend in the past week. On January 3, the three-month nickel price at the London Metal Exchange (LME) closed at $9,910mt, while LME nickel inventory on the same date totaled 372,066 mt.
Overall trading activity has been at normal levels in the domestic stainless steel market, while the soft trend of prices has been due to decreases in costs of upstream materials and traders’ decision to reduce prices in order to bring in funds. However, in the first few days of the New Year, some stainless steel product prices have recovered to their levels of one week ago. It is believed that domestic stainless steel prices may move sideways in the coming week or may rebound slightly as traders are no longer under strong pressure to bring in funds.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,427 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,800 |
1,412 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
17,400 |
2,507 |
↓300 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
17,150 |
2,471 |
↓350 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,383 |
↓300 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
9,100 |
1,311 |
↑200 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.94