China’s domestic stainless steel market has seen slight decreases in 304 series product prices during the past seven days, while prices of other products have moved sideways.
Global nickel prices have increased slightly on week-on-week basis. On January 9, the three-month nickel price at the London Metal Exchange (LME) closed at $12,695/mt, while LME nickel inventory on the same date totaled 367,056 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the current winter off-season. Increased inventory levels have resulted in minor decreases in prices of 304 series products in the past week. Meanwhile, traders are mostly under pressure to bring in funds and are generally willing to offer discounts. As for the coming week, it is believed that the domestic stainless steel market may fluctuate on a slightly soft trend.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,516 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,286 |
0 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,800 |
2,420 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,900 |
2,435 |
↓150 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
9,600 |
1,470 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
9,700 |
1,485 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.53
