China's domestic stainless steel market has witnessed decreases in prices of 304 series products in the past week, while the prices of other stainless steel products have remained unchanged.
Global nickel prices have decreased compared to one week ago. On May 20, the three-month nickel price at the London Metal Exchange (LME) closed at $19,630/mt compared to $20,090/mt one week earlier, while LME nickel inventory on May 20 totaled 279,138 mt.
Under the influence of the decrease in nickel prices and following the rapid increases witnessed in stainless prices in the previous week, prices of 304 series products have declined by around RMB 2,000/mt ($321/mt) week on week in the Chinese domestic market. Demand is still on the slack side in the market, while traders are uncertain as regards the future prospects for the market and are maintaining a wait-and-see stance for now. Apart from 304 series products, prices of most other stainless steel products have moved sideways in the domestic market in the past week. If nickel prices continue to move on a soft trend, it is thought that the Chinese domestic stainless steel market may indicate some downward adjustments in the coming week.
Latest situation in local Chinese stainless steel market
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Hot Drawn Stainless Plate
Thickness
2 - 6 mm
Width
1,000 - 1,500 mm
Length
2,000 - 6,000 mm
Tedarikçi
MAIAK-M
Cold Drawn Stainless Plate
Thickness
0.5 - 3 mm
Width
1,000 - 1,250 mm
Length
2,000 - 2,500 mm
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MAIAK-M
Hot Drawn Stainless Coil
Thickness
0.45 - 1.45 mm
Width
0 mm
Coil
R
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SAMBHV SPONGE POWER LIMITED