China’s domestic stainless steel market has followed a stable trend during the past seven days.
Global nickel price have fluctuated on an upward trend during the past week. On October 24, the three-month nickel price at the London Metal Exchange (LME) closed at $11,995/mt, while LME nickel inventory on the same date totaled 385,284 mt.
While the Chinese domestic stainless steel market has moved sideways in the past week, overall trading activity in the market has remained at weak levels since buyers consider prices to be on the high side. Traders may offer discounts during negotiations in order to conclude sales, while downstream buyers are mainly maintaining a wait-and-see stance and are only purchasing in line with their needs. As for the coming week, it is believed that Chinese domestic stainless steel prices will mostly continue to move on a stable trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,900 |
1,642 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,400 |
1,416 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,500 |
2,485 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
17,500 |
2,636 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,300 |
1,551 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,310 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.64