China's domestic stainless steel market has moved on a downward trend during the past seven days.
Global nickel prices have fluctuated downwards during the past week. On June 16, the three-month nickel price at the London Metal Exchange (LME) closed at $12,750/mt, while LME nickel inventory on the same date totaled 461,568 mt.
The declines in nickel prices and as well as the very weak levels of demand have contributed to the decreases in local Chinese stainless steel prices in the past week. Domestic prices of 300 series stainless steel products are now at their lowest levels since 2003. For the coming week, it is believed that the domestic stainless steel market will indicate a slight downtrend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
10,900 |
1,755 |
↓600 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,200 |
1,159 |
↓400 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,200 |
2,287 |
↓300 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
13,800 |
2,222 |
↓250 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,000 |
1,127 |
↓200 |
430/BA (1.0 x 1,219 x C) |
Wuxi |
Krupp |
6,300 |
1,014 |
↓600 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21