China’s domestic stainless steel market has followed a mostly stable trend in the past seven days, with some slight downticks also seen in prices of certain products.
Global nickel prices are higher compared to one week ago. On March 13, the three-month nickel price at the London Metal Exchange (LME) closed at $13,875/mt, while LME nickel inventory on the same date totaled 326,364 mt.
Trading activity in the Chinese domestic stainless steel market is currently at low levels, while market inventory is on the high side. Downstream demand has not improved and most downstream buyers are maintaining a wait-and-see stance in order to gain more favorable prices from traders. On the other hand, the latest increase in nickel prices provides some support for stainless steel prices. As for the coming week, it is believed that domestic stainless steel prices may move sideways or record a slight rebound, amid expectations that demand will eventually improve.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,566 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,329 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,484 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2,532 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,400 |
1,487 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,377 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.32