Local Chinese stainless steel prices mostly stable, with some slight declines

Wednesday, 15 May 2019 15:52:52 (GMT+3)   |   Shanghai
       

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


Similar articles

EEC extends AD duty on seamless stainless pipes from China and Malaysia for five years

25 Jan | Steel News

Turkey exhausts some of its EU steel import quotas

17 Jan | Steel News

EU’s HRC and wire rod import quotas allocated for other countries exhausted in new period

03 Jan | Steel News

EU to allocate TRQs for five products from UK to N. Ireland

08 Nov | Steel News

India initiates AD investigation on stainless steel welded pipes from Thailand and Vietnam

18 Oct | Steel News

Russia’s stainless steel imports up 4.6 percent in July from June

24 Aug | Steel News

EU’s import quotas for some products about to be exhausted, especially for HRC

26 Jul | Steel News

Russia’s stainless steel imports down 9.3 percent in June from May

14 Jul | Steel News

EU import quotas of HRC for some countries exhausted

21 Jun | Steel News

Russia’s stainless steel imports down 10.3 percent in May from April

12 Jun | Steel News