Prices in China’s domestic stainless steel market have either declined slightly or have moved sideways during the past seven days.
Global nickel prices have fluctuated on a slight uptrend in the past week. On November 21, the three-month nickel price at the London Metal Exchange (LME) closed at $11,870/mt, while LME nickel inventory on the same date totaled 379,278 mt.
The weakness of demand has contributed to the slight declines seen in some domestic stainless steel prices in the past week, while low inventories have provided support for the stable movement of certain stainless steel product prices. Traders are mostly downbeat on the future prospects for the market and so they are willing to offer discounts to attract business. As for the coming week, it is thought that domestic stainless steel prices may fluctuate on a slightly soft trend as no improvement is anticipated in demand.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,495 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,269 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,341 |
↓200 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,455 |
↓100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,000 |
1,511 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,314 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.62
