China’s domestic stainless steel prices have mostly softened slightly during the past seven days, with some prices also remaining stable.
Global nickel prices have risen by a small margin during the past week. On April 3, the three-month nickel price at the London Metal Exchange (LME) closed at $13,100/mt, while LME nickel inventory on the same date totaled 182,094 mt.
Overall trading activity has been at normal levels in the past week in the Chinese domestic stainless steel market, while activity has increased slightly after the new 13 percent VAT rate began to be implemented as of April 1. The minor downticks in the market have been due to the increase in supply volumes. As for the week ahead, it is believed that local stainless steel prices may edge down by a small margin.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,535 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,550 |
1,274 |
↓200 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,300 |
2,280 |
↓100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,000 |
2,235 |
↓200 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,222 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,100 |
1,207 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.71