Slight fluctuations in Chinese domestic stainless steel prices

Wednesday, 29 August 2018 16:55:42 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have fluctuated slightly during the past seven days.

Global nickel prices have fluctuated during the past week and are now a little higher compared to one week ago. On August 28, the three-month nickel price at the London Metal Exchange (LME) closed at $13,675/mt, while LME nickel inventory on the same date totaled 241,488 mt.

Some domestic stainless steel prices have increased by small margins during the past week supported by rises in nickel prices, while prices of other stainless steel products in the domestic market have softened slightly in the same period amid sluggish trading activity. However, support from low market inventory levels is still strong given the impact of environmental measures on production volumes. As for the coming week, it is believed that domestic stainless steel prices will mostly soften slightly.

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

10,000

1,466

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,900

1,305

↑50

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

16,100

2,361

↑150

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

16,250

2,383

↓150

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

8,350

1,224

↓50

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,500

1,246

↓100

 

16 percent VAT is included in the above prices.

$1 = RMB 6.82


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