China’s domestic stainless steel prices have indicated diverse trends during the past seven days, with 304 series product prices softening.
Global nickel prices have increased slightly on week-on-week basis, having first declined during the past week and then increased. On March 19, the three-month nickel price at the London Metal Exchange (LME) closed at $13,190/mt, while LME nickel inventory on the same date totaled 190,434 mt.
Overall trading activity in the domestic stainless steel market has been at low levels in the past week, with downstream demand so far not showing much improvement during what is usually a good season for sales. This weakness of demand has contributed to the softening seen in prices of 304 series products. At the same time, the recent rebound in nickel prices has provided some support for stainless prices. As for the week ahead, it is believed that domestic stainless steel prices may indicate slight increases.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,540 |
↑100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,330 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,317 |
↓250 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,200 |
2,272 |
↓50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,150 |
1,226 |
↓50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,200 |
1,218 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.70
