China's domestic stainless steel market has mostly moved on a stable trend during the past seven days, though with some slight price upticks also observed.
Global nickel prices have softened a little during the past week. On March 29, the three-month nickel price at the London Metal Exchange (LME) closed at $8,450/mt, while LME nickel inventory on the same date totaled 434,850 mt.
Overall trading activity in the domestic stainless steel market has remained weak. Inventory levels have mainly been at normal levels, though tightness of supply of some products has resulted in minor price increases. It is believed that domestic stainless steel prices could move on a slight downtrend if supply increases.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,800 |
1,512 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
6,100 |
941 |
↑100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
12,000 |
1,852 |
0 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
11,800 |
1,821 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
6,750 |
1,042 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,100 |
941 |
0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.48