China’s domestic stainless steel market has indicated minor fluctuations in prices during the past week.
Global nickel prices have moved on a fluctuating trend in the past week, ending the week slightly higher compared to one week earlier. On November 29, the three-month nickel price at the London Metal Exchange (LME) closed at $11,500/mt, while LME nickel inventory on the same date totaled 367,050 mt.
In the Chinese domestic stainless steel market, some product prices increased slightly due to low inventory levels, while prices of other products indicated minor declines as traders were eager to sell. Producers have chosen to reduce their prices slightly since overall trading activity is still weak and also as they are under pressure to bring in funds as the end of the year approaches. As for the coming week, it is believed that, with the support of high costs, domestic stainless steel prices will not record any sharp reductions, but may decline slightly due to the weakness of demand.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 10,100 | 1,466 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 8,500 | 1,234 | 0 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 17,000 | 2,467 | ↑300 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 16,600 | 2,409 | ↓150 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,500 | 1,379 | ↓100 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 7,800 | 1,132 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6. 89