China's domestic stainless steel market has mostly moved on a stable trend in the past seven days, though with some minor upticks and downticks in prices also observed.
Global nickel prices have fluctuated in the past week, edging up slightly compared to one week earlier. On January 26, the three-month nickel price at the London Metal Exchange (LME) closed at $8,670/mt, while LME nickel inventory on the same date totaled 450,828 mt.
Since the Chinese New Year holiday (February 8-14) is approaching, trading activity in the Chinese domestic stainless steel market has become very sluggish and is expected to slacken further in the coming week. The market is expected to follow a mostly stable trend in the week ahead.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,489 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
5,800 |
881 |
↓100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
11,750 |
1,786 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
11,100 |
1,687 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,700 |
1,018 |
↑50 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,100 |
927 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.58