China’s domestic stainless steel prices have been mostly stable in the past seven days, with some slight downticks also seen.
Global nickel prices have continued to move down during the past week. On May 14, the three-month nickel price at the London Metal Exchange (LME) closed at $11,820/mt, while LME nickel inventory on the same date totaled 168,744 mt.
Overall trading activity in the domestic stainless steel market has been at low levels in the past week as buyers have waited for additional declines in prices. Stainless steel producers are now unwilling to reduce prices further as their profit margins have narrowed significantly, but some traders are willing to offer discounts in order to close more deals. As for the week ahead, it is believed that domestic stainless steel prices may fluctuate on a soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,499 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,000 |
1,164 |
↓200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,000 |
2,183 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,169 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,100 |
1,179 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,000 |
1,164 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.87
