Local Chinese stainless steel market mostly follows downtrend

Wednesday, 19 April 2017 17:30:30 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market has mainly followed a downward trend during the past seven days.
 
Global nickel prices have declined further during the past week. On April 18, the three-month nickel price at the London Metal Exchange (LME) closed at $9,310mt, while LME nickel inventory on the same date totaled 369,354 mt.

In the past week, lower nickel prices have contributed to the downward movement of the domestic stainless steel market in China, while weak trading activity also means there is a lack of support for prices. However, many domestic producers are now becoming more inclined to keep their prices stable and not reduce them further, though, under pressure from tight funds, most traders are willing to offer discounts during transactions. As for the coming week, it is believed that domestic stainless steel prices may soften 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 9,800 1,422 0
201/No.1 (3.0 x 1,219 x C) Foshan/Lecong Guangzhou Lianzhong 8,500 1,234 ↓300
304/2B (1.0 x 1,219 x C) Wuxi Taigang 14,800 2,148 ↓600
304/No.1(3.0 x 1,219 x C) Wuxi Taigang 16,500 2,395 ↓400
430/2B (3.0 x 1,219 x C) Wuxi Taigang 8,350 1,212 ↓250
430/No.1(3.0 x 1,219 x C) Wuxi Krupp 8,900 1,292 ↓200
 

17 percent VAT is included in the above prices. 
 
$1 = RMB 6.89


Similar articles

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab