China’s domestic stainless steel market has mostly followed a soft trend during the past seven days, except for prices of 400 series products which moved sideways.
Global nickel prices have declined during the past week. On June 12, the three-month nickel price at the London Metal Exchange (LME) closed at $15,210/mt, while LME nickel inventory on the same date totaled 277,986 mt.
In the past week, the declines in most domestic stainless steel prices have been due to slack trading activity and the decreases in nickel prices. Downstream demand has been weak due to environmental measures and the off-season for business. Sentiment is mostly negative among traders, who have been willing to reduce prices in order to conclude deals. It is thought that domestic stainless steel prices will continue their soft trend in the week ahead.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,800 |
1,529 |
↓200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,300 |
1,295 |
↓200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,512 |
↓500 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,559 |
↓400 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,600 |
1,342 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,310 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.41