In China's domestic stainless steel market, prices of 304 series products are down slightly compared to one week ago, while prices of other products have moved sideways.
Global nickel prices have fluctuated on an upward trend during the past week. On June 28, the three-month nickel price at the London Metal Exchange (LME) closed at $9,340/mt, while LME nickel inventory on the same date totaled 381,084 mt.
In the past week, domestic prices of 304 series products in China first moved down, but started to rebound towards the end of the week, with prices down slightly week on week. Demand is sluggish and is unlikely to improve given the hot weather and the rainy season. It is thought that Chinese domestic stainless steel prices may just indicate slight fluctuations in the week ahead.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,300 | 1,549 | ↔0 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,400 | 962 | ↔0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 12,750 | 1,917 | ↓50 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 12,250 | 1,842 | ↓150 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,500 | 977 | ↔0 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 7,100 | 1,068 | ↔0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.65