China’s domestic stainless steel prices have indicated either stable or slightly soft trends in the past seven days.
Global nickel prices have fluctuated on a downward trend during the past week. On November 13, the three-month nickel price at the London Metal Exchange (LME) closed at $11,345/mt, while LME nickel inventory on the same date totaled 216,600 mt.
Due to rainy and cold weather conditions, in the past week trading activity has been at low levels in the domestic stainless steel market where some prices have softened slightly due to the decreases in nickel prices. Traders are mostly willing to offer some discounts in order to close more deals. As for the week ahead, amid the off-season and the softness of nickel prices, it is believed that local stainless steel prices will continue to either move sideways or decrease slightly.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,439 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,281 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,150 |
2,324 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,150 |
2,324 |
↓50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,194 |
↓100 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,300 |
1,194 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.95