China's domestic stainless steel market has mostly followed a stable trend during the past week, though with slight downticks seen in prices of some products.
Global nickel prices have fluctuated in the past seven days, with prices now slightly lower compared to one week ago. On October 20, the three-month nickel price at the London Metal Exchange (LME) closed at $10,400/mt, while LME nickel inventory on the same date totaled 434,994 mt.
Overall trading activity in the Chinese domestic stainless steel market has remained slack in the past week, while traders are experiencing tight liquidity coming towards the end of the month. For the coming week, it is thought that, if nickel prices soften further, domestic stainless steel prices may indicate slight decreases.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,543 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,250 |
984 |
↑50 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
12,600 |
1,984 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
12,200 |
1,921 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,250 |
984 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,500 |
1,024 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.35