China’s domestic stainless steel prices have mostly indicated a slight softening in the past seven days, some stable movement and certain upticks have also been seen.
Global nickel prices have fluctuated on a slightly soft trend during the past week. On March 26, the three-month nickel price at the London Metal Exchange (LME) closed at $13,080/mt, while LME nickel inventory on the same date totaled 183,582 mt.
In the past week, overall trading activity has been at low levels in the domestic stainless steel market, while the minor downticks seen in many prices has been due to weak demand and the minor declines seen in nickel prices. No great changes have been seen in market inventories, while producers are not unwilling to reduce their prices. As for the week ahead, it is believed that stainless steel prices in the domestic market will mostly follow a slightly soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,533 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,750 |
1,302 |
↓150 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,400 |
2,292 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,200 |
2,262 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,220 |
↑50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,100 |
1,205 |
↓100 |
16 percent VAT is included in the above prices.
$1 = RMB 6.72