Local Chinese stainless steel market mostly moves sideways

Wednesday, 30 January 2019 17:24:49 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have mostly followed a stable trend in the past seven days, though with some slight upticks also seen.

 

Global nickel prices have fluctuated on an upward trend during the past week. On January 29, the three-month nickel price at the London Metal Exchange (LME) closed at $12,120/mt, while LME nickel inventory on the same date totaled 203,058 mt.

Overall trading activity has been at low levels in the past week in the domestic stainless steel market where prices have been mainly stable, though some minor upticks have also been observed, supported by the rises in nickel prices. Most buyers have exited the market ahead of the Chinese New Year holiday. It is believed that domestic stainless steel prices will remain stable before and during the holiday period. 

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

10,000

1,488

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,900

1,324

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,250

2,269

↑100

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

14,900

2,217

0

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

8,000

1,190

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,200

1,220

0

 

16 percent VAT is included in the above prices.

$1 = RMB 6.72


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