China’s domestic stainless steel market has been characterized by fluctuations in the past seven days, with most prices moving in an upward direction.
Global nickel prices have indicated significant increases in the past week. On May 15, the three-month nickel price at the London Metal Exchange (LME) closed at $14,425/mt, while LME nickel inventory on the same date totaled 308,478 mt.
Most domestic stainless prices have increased by small margins in the past week due to rising nickel prices, though prices of some products have decreased due to weak trading activity. Downstream buyers are mostly maintaining a wait-and-see stance and are only purchasing when necessary. As for the coming week, nickel prices may get decrease slightly after the recent strong increases, while demand for stainless steel will likely remain weak. It is thought that domestic stainless steel prices will just fluctuate slightly in the week ahead.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,550 |
1,499 |
↑150 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,050 |
1,264 |
↑150 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,650 |
2,457 |
↑200 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,512 |
↓100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,500 |
1,334 |
↓50 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,319 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.37