Global nickel prices are down slightly compared to one week ago. On December 13, the three-month nickel price at the London Metal Exchange (LME) closed at $11,400/mt, while LME nickel inventory on the same date totaled 368,598 mt.
Overall trading activity in the Chinese domestic stainless market has been slack in the past week, while the price rises in the market have been caused by reductions in stainless steel production due to government policy. In addition, traders have been holding on to their stocks and waiting for higher prices. Furthermore, raw material prices have continued to rise and some stainless producers have been carrying out maintenance works. It is believed that there is still room for further increases in prices, but traders may also offer discounts in order to bring in cash since the end of the year is approaching.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,491 |
↑200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,800 |
1,418 |
↑900 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
18,300 |
2,648 |
↑1.050 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
18,400 |
2,663 |
↑1.600 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,250 |
1,483 |
↑550 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,800 |
1,274 |
↑800 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.91