China’s domestic stainless steel market has mostly followed a stable trend in the past seven days, though prices of 304 series products have softened slightly.
Global nickel prices have decreased slightly compared to one week ago. On January 16, the three-month nickel price at the London Metal Exchange (LME) closed at $12,550/mt, while LME nickel inventory on the same date totaled 364,218mt.
Overall trading activity in the domestic stainless steel market has remained sluggish in the past week due to the winter off-season and poor weather conditions. Supply volumes and market inventories have recently increased, while traders' willingness to sell have contributed to downticks in prices of 304 series products. As for the coming week, it is believed that domestic stainless steel prices will again be mostly stable, with some minor downticks also.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,537 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,304 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,438 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,700 |
2,438 |
↓200 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,491 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
9,700 |
1,506 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.44
