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