China’s domestic stainless steel market has mostly followed a stable trend in the past seven days, though some downticks have also been seen.
Global nickel prices have moved down sharply during the past week. On September 4, the three-month nickel price at the London Metal Exchange (LME) closed at $12,470/mt, while LME nickel inventory on the same date totaled 237,984 mt.
Despite the relatively large drop in nickel prices, domestic stainless steel prices in China have mostly followed a stable trend in the past week, with just some slight decreases. Overall trading activity has remained at low levels. Low market inventory and shortages of certain stainless steel products have provided support for prices. Production levels are on the low side due to the influence of environmental protection measures. Downstream demand is still slack but there are hopes that this situation will change given the approach of the traditional peak season for business. As for the week ahead, it is believed that domestic stainless steel prices in China will continue to be mostly stable with some slight reductions also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,464 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,303 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,357 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,379 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,215 |
↓50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,500 |
1,245 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.83
