China’s domestic stainless steel market has seen slight declines in prices of 304 series products in the past seven days and stable prices for other products.
Global nickel prices have fluctuated on an upward trend in the past week and it is believed that nickel prices will continue their strong trend in the coming period. On May 22, the three-month nickel price at the London Metal Exchange (LME) closed at $14,780/mt, while LME nickel inventory on the same date totaled 300,126 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week. Despite support from nickel prices, stainless steel producers have not raised their quotations. Traders are still focusing on sales and have been willing to offer some slight reductions in order to close deals. As for the week ahead, no reductions are expected to be seen in prices of stainless steel given the support from nickel prices. It is believed that the domestic stainless steel market may follow a stable trend in the coming week.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,550 |
1,495 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,050 |
1,260 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,550 |
2,433 |
↓100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,900 |
2,488 |
↓100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,500 |
1,330 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,315 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.39