China's domestic stainless steel market has seen increases in 304 series products in the past seven days, while prices of other stainless products have moved sideways or declined.
Global nickel prices have fluctuated on an upward trend during the past week. On September 27, the three-month nickel price at the London Metal Exchange (LME) closed at $10,630/mt, while LME nickel inventory on the same date totaled 361,860 mt.
Domestic prices of 304 series stainless products in China have increased in the past week with the support of higher nickel prices. Meanwhile, overall trading activity has remained slack in the given week, while traders have chosen to reduce their quotations for certain products in order to attract business. It is believed that traders may be willing to reduce their prices slightly this week as the end of the month is approaching, while demand may pick up after the National Day Holiday (October 1-7).
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,469 |
↓200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,000 |
1,049 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
13,500 |
2,024 |
↑50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
13,300 |
1,994 |
↑100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,200 |
1,079 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,400 |
960 |
↓100 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.67