Over the past week, prices in the local Chinese stainless steel market have China’s domestic showed a mostly stable trend, with slightly declines for some products.
Global nickel price has showed a fluctuating with reducing trend. On August 14, the three-month nickel price at the London Metal Exchange (LME) closed at $13,425/mt, while LME nickel inventory on the same date totaled 248,712 mt.
Domestic stainless steel prices in China have mostly hold a stable trend, with certain types have been impacted by the weakness of nickel prices and declines slightly over the past week. Overall trading activity has still remained weak due to off season. Meanwhile, increasing supplies have exerted significant pressure to spot market prices. However, some Chinese stainless steel producers will reduce production volume recently due to environment measure or maintenance works, which may influence the supply volume in the near future. As for the week ahead, it is expected that domestic stainless steel prices in China will fluctuate in a small margin and increase slightly.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,447 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,850 |
1,281 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,315 |
↓150 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,700 |
2,417 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,500 |
1,230 |
↓50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,600 |
1,245 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.91
