China’s domestic stainless steel market has seen decreases in 304 series product prices on week-on-week basis, while prices of other products are unchanged week on week.
Global nickel prices have fluctuated on a soft trend during the past week. On December 11, the three-month nickel price at the London Metal Exchange (LME) closed at $10,770/mt, while LME nickel inventory on the same date totaled 210,258 mt.
In the past week, domestic prices of stainless steel 304 series products first increased following the US-China talks in Buenos Aires, but then switched to a downward trend amid the ongoing low levels of trading activity during the off-season, with traders choosing to reduce their prices in order to close more deals. Prices of other stainless steel products moved sideways due to support from low inventories. As for the week ahead, it is believed that domestic stainless steel prices will mostly follow a stable trend.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,451 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,292 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,300 |
2,221 |
↓200 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,350 |
2,228 |
↓400 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,190 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,300 |
1,205 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.89