China’s domestic stainless steel market has mainly moved on a stable trend in the past seven days, though slight downticks have been observed in prices of some 304 series products.
Global nickel prices have fluctuated on a downward trend during the past week. On August 30, the three-month nickel price at the London Metal Exchange (LME) closed at $9,830/mt, while LME nickel inventory on the same date totaled 370,860 mt.
Overall trading activity has been at quite low levels in the past week, while supply volumes are on the low side also due to production restrictions ahead of the G20 meeting in Hangzhou on September 4-5. Most traders hold a positive view of the prospects for the stainless price trend in September and are seeking to keep their prices stable for now and wait for the traditional increase in demand in September. As for the coming week, it is believed that the domestic stainless steel market will follow a mostly stable trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
10,200 |
1,532 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,200 |
1,081 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
13,300 |
2,012 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
13,150 |
1,974 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,150 |
1,074 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,300 |
946 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.68