China’s domestic stainless steel market prices have mostly remained stable with slightly increases during past week.
Global nickel price have fluctuated on a slight upward trend during past week. On December 18, the three-month nickel price at the London Metal Exchange (LME) closed at $10,825/mt, while LME nickel inventory on the same date totaled 209,784 mt.
In the given period, prices of domestic stainless steel in China have mostly remained stable, while prices of certain stainless steel products increased slightly. While overall trading activity has recovered to normal levels and has provided support for prices in the sport market, the slight increase in LME nickel prices have also impacted prices in a positive way. As a result, the downward movement of prices in some stainless steel products’ prices has stopped and prices have started to move sideways. Amid increased demand and low inventory levels, prices in the local Chinese stainless steel market are expected to increase slightly in the coming week.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,449 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,290 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,300 |
2,217 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,400 |
2,232 |
↑50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,188 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,300 |
1,203 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.90
