China’s domestic stainless steel prices have mostly moved sideways in the past seven days, though some increases have also been seen.
Global nickel prices have fluctuated on an upward trend in the past week. On February 27, the three-month nickel price at the London Metal Exchange (LME) closed at $13,840/mt, while LME nickel inventory on the same date totaled 335,586 mt.
Domestic stainless steel prices remained stable during the recent holiday period and have mostly continued to move sideways since then, though prices of some products have increased slightly. Trading activity is still slack but downstream demand is expected to be back to normal levels next week. Traders are generally upbeat about the prospects for stainless steel prices in the coming period. As for the coming week, it is believed that stainless steel prices in China may move sideways, with some upward movement also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,575 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,500 |
1,339 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,900 |
2,504 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,520 |
↑200 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,512 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,370 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.35