Domestic stainless steel prices in China mostly remain stable

Wednesday, 05 June 2019 21:17:01 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market prices have indicated a mostly stable trend during the past week.

Global nickel price has showed a reduce trend during past week. On June 5, the three-month nickel price at the London Metal Exchange (LME) closed at $11,811/mt, while LME nickel inventory on the same date totaled 158,916mt.

Domestic stainless steel prices in China have returned to a mostly stable trend during the past week. Overall trading activity in the local Chinese stainless steel market has increased but is still at low levels. With the support from the nickel prices, most types of stainless steel hold a stable trend during this off season. According to market players, certain producers will reduce their production volumes during June. As for the week ahead, it is believed that stainless steel prices in China may slightly fall.

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

10,300

1,491

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

7,800

1,129

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

14,900

2,156

0

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

14,800

2,142

↓50

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

8,000

1,158

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,000

1,158

0

 

13 percent VAT is included in the above prices.

$1 = RMB 6.91


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