China’s domestic stainless steel prices have mostly followed a stable trend during the past seven days, though with slight fluctuations for some product prices.
Global nickel prices have risen slightly during the period of the National Day holiday. On October 9, the three-month nickel price at the London Metal Exchange (LME) closed at $13,010/mt, while LME nickel inventory on the same date totaled 226,044 mt.
Having been at good levels before the holiday, overall trading activity in the domestic stainless steel market is now sluggish. Market inventories have been moving upwards since the supply volume has continued to increase. As for the week ahead, since most producers have finished their maintenance works, supply volumes will increase further. Accordingly, it is believed that domestic stainless steel prices may follow a slightly soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,445 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,286 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,370 |
↑50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,355 |
↓100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,199 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,214 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.92