China’s domestic stainless steel prices have mostly moved sideways in the past seven days, though with some downticks also seen.
Global nickel prices have rebounded during the past week. On May 21, the three-month nickel price at the London Metal Exchange (LME) closed at $12,060/mt, while LME nickel inventory on the same date totaled 164,532 mt.
Overall trading activity has been at low levels in the past week in the Chinese domestic stainless steel market, while stainless producers have lately been seeking to support the market prices. However, due to weak demand and high inventory, slight reductions have been seen in the prices of some products in the market. As for the week ahead, with nickel prices increasing and stainless steel producers keeping their quotations unchanged, it is believed that domestic stainless steel prices in China will mostly follow a stable trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,493 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,800 |
1,130 |
↓200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,950 |
2,167 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,159 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,100 |
1,174 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,000 |
1,159 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.87
