Chinese stainless steel market prices remain mostly stable

Wednesday, 24 October 2018 17:46:08 (GMT+3)   |   Shanghai
       

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


Similar articles

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab