Local Chinese stainless steel prices mostly increase

Wednesday, 20 December 2017 17:07:24 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel market has mostly moved on a rising trend during the past seven days.

Global nickel prices have fluctuated in an upward direction in the past week. On December 19, the three-month nickel price at the London Metal Exchange (LME) closed at $11,755/mt, while LME nickel inventory on the same date totaled 374,502 mt.

China's domestic stainless steel market, in which trading activity has remained sluggish, has mostly moved upwards in the past week with the support of nickel prices, while low market inventory and supply provide additional support for stainless steel prices. However, coming closer to the end of the year, some traders have been willing to offer discounts. As for the coming week, it is believed that the domestic stainless steel market may fluctuate on 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

9,900

1,505

↑400

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,400

1,277

↑400

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

16,100

2,447

↑500

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

16,200

2,462

↑100

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

9,600

1,459

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,700

1,322

0

 

17 percent VAT is included in the above prices.

$1 = RMB 6.58

 


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