China’s domestic stainless steel market has seen some upticks in prices in the past two weeks, though prices have mostly moved sideways.
Global nickel prices have fluctuated over the past two weeks and are now higher compared to price levels before China’s National Day Holiday (Oct. 1-7). On October 13, the three-month nickel price at the London Metal Exchange (LME) closed at $10,475/mt, while LME nickel inventory on the same date totaled 439,740 mt.
The Chinese domestic stainless steel market has mostly followed a stable trend, with slight increases in prices of certain products due to the increases seen in nickel prices. Overall trading activity in the stainless market remains slack. It is believed that domestic stainless steel prices will remain mostly stable during the coming week.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,543 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,200 |
976 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
12,700 |
2,000 |
↑350 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
12,200 |
1,921 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,250 |
984 |
↑50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
1,024 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.35