China’s domestic stainless steel market has mostly moved on a stable trend in the past week, with some slight decreases also seen in some prices.
Global nickel prices have softened by a small margin compared to one week ago. On March 20, the three-month nickel price at the London Metal Exchange (LME) closed at $13,450/mt, while LME nickel inventory on the same date totaled 322,884 mt.
In the past week, overall trading activity has remained at low levels in the Chinese domestic stainless market. High inventory and low demand are still the main factors which cause stainless steel prices to show some signs of weakness, while the lack of a significant drop in nickel prices continues to provide support for stainless steel prices from the cost side. As for the coming week, it is believed that domestic stainless steel prices may fluctuate on a slightly soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,564 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,327 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,650 |
2,472 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,528 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,350 |
1,477 |
↓50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,374 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.33