China’s domestic stainless steel market has fluctuated on a soft trend during the past week.
Global nickel prices have increased on week-on-week basis, having risen during the first part of the week and later decreased. On November 7, the three-month nickel price at the London Metal Exchange (LME) closed at $12,655/mt, while LME nickel inventory on the same date totaled 382,356 mt.
Overall trading activity in the domestic stainless steel market has been at low levels during the week in question. Traders are mostly willing to offer discounts in order to boost their sales. Downstream buyers have generally been maintaining a wait-and-see stance, contributing to the slackness of demand. As for the coming week, it is believed that domestic stainless steel prices will be mostly stable, with slight downticks also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1.551 |
↓100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,800 |
1.325 |
↓100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,200 |
2.440 |
↓400 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,950 |
2.553 |
↓350 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,200 |
1.536 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1.310 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.64
