China’s domestic stainless steel market prices have indicated a mostly stable trend during past week.
Global nickel price has fallen further by a trend in the given week. On October 23, the three-month nickel price at the London Metal Exchange (LME) closed at $12,375/mt, while LME nickel inventory on the same date totaled 219,660mt.
Overall trading activity has remained at normal level. Stainless steel producers in China have kept their prices stable and provided support for the spot market. Recently, the supply volume of stainless steel in China has slightly increased as well as market inventory which is exerting pressure on market prices. Therefore, as for the week ahead, it is believed that stainless market prices may show a slight downtrend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,441 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,282 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,341 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,341 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,196 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,210 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.94
