China’s domestic stainless steel prices have mostly followed an upward trend during the past seven days, with some prices also remaining stable.
Global nickel prices have fluctuated in a downward direction during the past week. On July 2, the three-month nickel price at the London Metal Exchange (LME) closed at $12,095/mt, while LME nickel inventory on the same date totaled 161,448 mt.
Domestic stainless steel prices in China have mostly followed an upward trend in the past week due to the strong performance of the steel market recently and low production volumes. Overall trading activity has increased but is still at normal levels. Traders were willing to offer some discounts leading up to the end of June. As for the week ahead, considering the current offseason and the recent softening of nickel prices, it is believed that domestic stainless steel prices may move down slightly.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,400 |
1,505 |
↑100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7.,00 |
1,129 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,080 |
2,182 |
↑150 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,950 |
2,164 |
↑50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,850 |
1,136 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
7,900 |
1,143 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.91
