Prices in the local Chinese stainless steel market have showed different trends during past week, with slights ups and downs.
Global nickel price have declined slightly in the given period. On August 7, the three-month nickel price at the London Metal Exchange (LME) closed at $13,850/mt, while LME nickel inventory on the same date totaled 251,466 mt.
In the given period, domestic stainless steel prices in China have fluctuated slightly, while trading activity has remained low. Prices of certain products have decreased, influenced by declines seen in upstream nickel prices. Meanwhile, prices of some products have been supported by the limitation of production volume due to environment measure. As for next period, most of Chinese traders are holding a positive view since the off season will end soon. However, considering the supply volume recently may increase, prices in the local Chinese stainless steel market are expected to continue to fluctuate in the coming week.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,462 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,850 |
1,294 |
↑100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,150 |
2,361 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,700 |
2,442 |
↑200 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,550 |
1,250 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,600 |
1,257 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.84
