In the past seven days, China’s domestic stainless steel prices have risen slightly for 304 series products, while moving sideways for other products.
Global nickel prices have softened by a small margin during the past week. On September 11, the three-month nickel price at the London Metal Exchange (LME) closed at $12,230/mt, while LME nickel inventory on the same date totaled 236,340 mt.
Overall trading activity in the Chinese domestic stainless steel market in the past week has remained slack, while the increases seen in 304 series product prices have been due to low inventories. Most traders hold a positive view of the prospects for the price trend due to the low market inventories and the negative impact of environmental measures on supply volumes. While nickel prices have softened, prices of other raw material have remained at high levels and so there is not much room for significant decreases in stainless steel prices. As for the week ahead, it is believed that domestic stainless steel prices may just indicate small fluctuations.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,456 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,295 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,373 |
↑200 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,387 |
↑100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,208 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,500 |
1,237 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.87
