China’s domestic stainless steel prices are mostly back at the same levels as one week ago following fluctuations during the week.
Global nickel prices have continued to rise during the past week. On January 15, the three-month nickel price at the London Metal Exchange (LME) closed at $11,675/mt, while LME nickel inventory on the same date totaled 197,952 mt.
With support from rises in prices of nickel and other raw materials, domestic stainless steel prices rose slightly early in the past week, but subsequently have mostly fallen back to the previous price levels due to the weakness of demand and as traders are principally focused on concluding sales ahead of the Chinese New Year holiday. As for the coming week, it is believed that stainless steel prices in China may follow a mainly stable trend, with slight downticks also possible as demand is expected to slacken as the holiday approaches.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,479 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,317 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,150 |
2,241 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,950 |
2,212 |
↓300 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,050 |
1,191 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,200 |
1,213 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.76
