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