Local Chinese stainless steel prices move sideways or decline

Wednesday, 17 April 2019 17:57:59 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have either softened or moved sideways in the past seven days, depending on the product.  

Global nickel prices have followed a soft trend during the past week. On April 16, the three-month nickel price at the London Metal Exchange (LME) closed at $13,070/mt, while LME nickel inventory on the same date totaled 177,198 mt.

The decreases in prices of some domestic stainless steel products in the past week have been mainly due to the weak trend of nickel prices. Overall trading activity for stainless steel has been at low levels, while supply and market inventories have recently increased. As for the week ahead, it is believed that domestic stainless steel prices may be characterized by 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

1,540

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,500

1,271

↓100

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,150

2,265

↓150

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

15,000

2,242

0

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

8,200

1,226

0

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,100

1,211

0

13 percent VAT is included in the above prices.

$1 = RMB 6.69


Tags: Far East 

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