China’s domestic stainless steel market has mostly followed a rising trend during the past seven days.
Global nickel prices have fluctuated in an upward direction in the past week. On May 8, the three-month nickel price at the London Metal Exchange (LME) closed at $13,880/mt, while LME nickel inventory on the same date totaled 313,644 mt.
Domestic stainless steel prices in China have mostly increased during the past week due to the rises seen in nickel prices, while overall trading activity for stainless steel has increased and is generally at good levels. At the start of the new month, most traders and stainless producers have been under no pressure from tightness of funds and so they have been more willing to raise their prices. Inventories of 304 and 201 series products have been at low levels, thereby providing additional support for increases in prices of these products, while demand for 430 series products has been low, resulting in slight declines in product prices. As for the coming week, it is believed that domestic stainless steel prices will mainly just indicate slight fluctuations.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,400 |
1,473 |
↑200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,900 |
1,238 |
↑200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,450 |
2,422 |
↑250 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,524 |
↑350 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,550 |
1,340 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,317 |
↓200 |
16 percent VAT is included in the above prices.
$1 = RMB 6.38
