China’s domestic stainless steel prices have mostly followed a stable trend during the past seven days.
Global nickel prices have fluctuated slightly during the past week. On June 11, the three-month nickel price at the London Metal Exchange (LME) closed at $11,885/mt, while LME nickel inventory on the same date totaled 163,878 mt.
Overall trading activity in the Chinese domestic stainless steel market has been at low levels in the past seven days, with demand remaining weak. However, traders have been unwilling to reduce prices so far in June. Some producers plan to carry out maintenance works during the coming period but the influence on production volumes is expected to be quite limited. As for the week ahead, it is believed that domestic stainless steel prices may remain mostly stable, with some slight downticks also possible.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,488 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,800 |
1,127 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,153 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,850 |
2,146 |
↑50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,000 |
1,156 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,000 |
1,156 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.92
