China’s domestic stainless steel market has mostly followed a stable trend in the past seven days, though with slight upticks or downticks also observed for prices of certain products.
Global nickel prices have indicated a slight rebound during the past week, while the room for further upward movement is considered to be limited. On January 19, the three-month nickel price at the London Metal Exchange (LME) closed at $8,580/mt, while LME nickel inventory on the same date totaled 452,742 mt.
While traders in the local Chinese stainless steel market are still focusing on sales, demand has continued to slacken due to the approach of the Chinese New Year holiday. As for the coming week, it is believed that domestic stainless steel prices may mainly follow a sideways trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,489 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
5,900 |
897 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
11,750 |
1,786 |
↑100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
11,100 |
1,687 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,650 |
1,011 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,100 |
927 |
↓100 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.58