China's domestic stainless steel market has indicated a downward price trend for some products, including 304 series, during the past seven days, while prices of some other products have moved sideways.
Global nickel prices have fluctuated on a soft trend during the past week, though the week-on-week decrease margins are small. On May 24, the three-month nickel price at the London Metal Exchange (LME) closed at $8,410/mt, while LME nickel inventory on the same date totaled 402,504 mt.
The downticks seen in the Chinese domestic stainless steel market in the past week have been due to the sluggishness of trading activity in the market. As for the coming week, it is believed that the domestic stainless steel market will mostly move sideways, with slight fluctuations possible.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,300 | 1,570 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 7,000 | 1,067 | 0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 12,650 | 1,928 | ↓350 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 12,300 | 1,875 | ↓350 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 7,300 | 1,113 | ↓50 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,400 | 976 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.56