Prices in the local Chinese stainless steel market have mostly showed a stable trend during past week, while prices of certain products moved downwards.
Global nickel price has showed a fluctuating downward trend during past week. On October 16, the three-month nickel price at the London Metal Exchange (LME) closed at $12,595/mt, while LME nickel inventory on the same date totaled 221,898 mt.
With the downwards movement of LME three month nickel prices during past week, prices in the local Chinese stainless market have mostly moved sideways though prices of some products declined. Overall trading activity has been at normal levels. The recent increases in stainless steel supplies and market inventory levels have provided certain support to stainless steel prices in the sport market. Meanwhile, since demand from downstream users has been at low levels, prices of certain major stainless products have decreased. As for the week ahead, prices in the local Chinese stainless steel market is expected to show a fluctuating trend and record declines.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,443 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,284 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,352 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,345 |
↓50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,198 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,212 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.93
