Local Chinese stainless steel prices indicate diverse trends

Wednesday, 20 March 2019 17:29:22 (GMT+3)   |   Shanghai
       

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


Similar articles

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 9, 2024

29 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 8, 2024

22 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 6, 2024

08 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 5, 2024

01 Feb | Flats and Slab

Flat steel prices in local Taiwanese market - week 4, 2024

25 Jan | Flats and Slab

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

Flat steel prices in local Taiwanese market - week 2, 2024

11 Jan | Flats and Slab

Local Chinese stainless steel prices stable or up slightly

04 Jan | Flats and Slab