China’s domestic stainless steel prices have mostly remained unchanged during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On April 9, the three-month nickel price at the London Metal Exchange (LME) closed at $13,260/mt, while LME nickel inventory on the same date totaled 179,442 mt.
While the new reduced VAT rate placed some downward pressure on domestic stainless steel prices, prices mostly moved sideways during the past week due to support from upticks in nickel prices. Downstream demand for stainless steel is still at low levels. As for the week ahead, it is believed that domestic stainless steel prices may indicate slight increases.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/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 |
8,600 |
1,280 |
↑50 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,300 |
2,277 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,000 |
2,232 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,220 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,100 |
1,205 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.72