China’s domestic stainless steel market has mostly resumed a stable trend in the past seven days, following previous price decreases.
Global nickel prices have moved upwards in the past week. On April 17, the three-month nickel price at the London Metal Exchange (LME) closed at $14,215/mt, while LME nickel inventory on the same date totaled 314,454 mt.
Domestic stainless steel prices have mostly moved sideways in the past week supported by higher nickel prices and improved trading activity which is now at good levels. Market inventories are on the high side and most traders are still focused on concluding sales. There have been some decreases in inventory as compared to last week. Most traders are increasingly inclined to raise their prices with the support of nickel prices. However, considering the high inventories and supply volumes, price increase margins are not expected to be so large. As for the coming week, it is believed that domestic stainless steel prices may rebound slightly.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,250 |
1,473 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,750 |
1,234 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,150 |
2,412 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,500 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,850 |
1,409 |
↓200 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,385 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.28