Prices in the local Chinese stainless steel market have mostly moved on a fluctuating trend during the past week, though with some upticks in prices also seen.
Global nickel prices have also fluctuated during past week and are now slightly higher compared to one week earlier. On September 15, the three-month nickel price at the London Metal Exchange (LME) closed at $10,100/mt, while LME nickel inventory on the same date totaled 447,786 mt.
In the past week, Chinese domestic stainless market prices have also moved on a fluctuating trend. Prices of mainstream products have increased slightly in the past seven days, while prices of other products have moved on a stable trend or declined slightly. Although overall trading activity has improved slightly over the past week, it is still at low levels. But since September is the traditional peak season for business, sentiment in the Chinese stainless market is positive. As for the coming week, it is believed that prices in the domestic stainless steel market may trend up if trading activity improves.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,538 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,150 |
965 |
↓300 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
12,400 |
1,947 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
12,200 |
1,915 |
↑100 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,100 |
958 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
1,020 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.37