China’s domestic stainless steel market has again mostly declined during the past week.
Global nickel prices have fluctuated down slightly in the past seven days. On November 28, the three-month nickel price at the London Metal Exchange (LME) closed at $11,350/mt, while LME nickel inventory on the same date totaled 379,320 mt.
Declines in nickel prices have contributed to the soft trend of prices in the past week in the domestic stainless steel market where trading activity has been at normal levels, especially after traders reduced their prices seeking to attract business as the end of the month approaches. It is believed that the domestic stainless steel market will mostly move sideways in the coming week as traders will be less willing to reduce their prices at the start of the new month.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,500 |
1,439 |
↓400 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,000 |
1,212 |
↓400 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,348 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,439 |
↓150 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,850 |
1,492 |
↓150 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,318 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.60