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