China’s domestic stainless steel market prices have mostly maintained a stable trend during the past week with some declines.
Global nickel price has continued to see a downward trend during past week. On November 20, the three-month nickel price at the London Metal Exchange (LME) closed at $11,095/mt, while LME nickel inventory on the same date totaled 215,562mt.
During the past week, domestic stainless steel prices in China mostly remained stable with some decreases and overall trading activity has remained at low levels. Demand remained weak due to off season. Traders are mostly willing to offer certain discount in order to close deals. Prices of some stainless steel products remained unchanged amid low inventories. As for the week ahead, domestic stainless steel prices will likely to soften.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,441 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,282 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,050 |
2,313 |
↓100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,050 |
2,313 |
↓100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,196 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,300 |
1,196 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.94