China’s domestic stainless steel market has mostly moved on a downward trend during the past seven days.
Global nickel prices have fluctuated on a declining trend in the past week. On September 19, the three-month nickel price at the London Metal Exchange (LME) closed at $11,140/mt, while LME nickel inventory on the same date totaled 383,502 mt.
With the influence of softer nickel prices, domestic stainless steel prices in China have mostly declined, with relatively large price decreases seen for some products, especially 304 series. Overall trading activity has been at normal levels. Traders are now more eager to conclude sales since the National Day Holiday is approaching and they are under pressure to bring in cash. As for the coming week, it is believed that domestic stainless steel prices may indicate further reductions as the end of the month and the holiday are approaching.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
11,100 |
1,689 |
↓100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,100 |
1,537 |
↓100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,496 |
↓1.000 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
17,800 |
2,709 |
↓400 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,461 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,500 |
1,294 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.57
