In the past seven days, China’s domestic stainless steel prices have increased for 304 series products, while moving sideways for other products.
Global nickel prices have fluctuating on an upward trend during the past week. On February 26, the three-month nickel price at the London Metal Exchange (LME) closed at $12,960/mt, while LME nickel inventory on the same date totaled 198,030 mt.
Domestic 304 series stainless steel prices have moved upward in the past week due to the increases in nickel prices. Overall trading activity has increased but is still at normal levels. Market inventory level have increased recently, while demand is still recovering but at a slow pace. As for the week ahead, considering that demand is increasing and that nickel prices are still at high levels, it is believed that domestic stainless steel prices may move sideways with some slight increases also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10.000 |
1.497 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8.900 |
1.332 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15.600 |
2.335 |
↑200 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15.100 |
2.260 |
↑100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8.050 |
1.205 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8.200 |
1.228 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.68