China’s domestic stainless steel market has indicated small price fluctuations in the past seven days, with some prices also unchanged.
Global nickel prices have fluctuated on a soft trend during the past week. On July 3, the three-month nickel price at the London Metal Exchange (LME) closed at $14,425/mt, while LME nickel inventory on the same date totaled 269,898 mt.
The slight increases seen in the past week in the domestic stainless steel market, where trading activity is still at low levels, have been due to support from the strong performance of upstream manganese alloy and ferrochrome prices against the backdrop of environmental protection measures. While stainless steel traders would like to push up their quotations due to higher costs, they are only able to make slight increases to their prices due to the weakness of demand. As for the coming week, domestic stainless steel prices will likely continue to indicate just slight fluctuations.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,800 |
1,476 |
↑200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,300 |
1,250 |
↑200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,950 |
2,402 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,500 |
2,485 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,600 |
1,295 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,650 |
1,303 |
↑50 |
16 percent VAT is included in the above prices.
$1 = RMB 6.64
