Stainless Steel Market Update
July 17, 2023
Market Overview
The stainless steel market has seen a decline in prices, with the recent drop in nickel prices affecting the market sentiment. The London Metal Exchange (LME) nickel price fell by
304 Stainless Steel Tube Blanks
The 304 stainless steel tube blanks have experienced a significant price drop. Early in the morning, the prices were relatively stable, but as the day progressed, a downward trend was observed with a drop of around 50 yuan/ton. The market is currently showing a lack of interest in the mainstream prices, leading to slow transactions.
Product | Price (yuan/ton) |
---|---|
Dingxin 304 Cold-rolled Narrow Strip | 13200 |
Dingxin 304 Hot-rolled Narrow Strip | 13300 |
30478 Cold-rolled Narrow Strip | 12700 |
304 Hot-rolled Plate | 13430 |
30478 Hot-rolled Plate | 12900 |
201 Stainless Steel Tube Blanks
The 201 stainless steel tube blanks market also shows a weak trend. Trade offers vary, with some traders offering discounts to attract buyers. The market is currently seeing a 10-30 yuan/ton discount range.
Grade | Price (yuan/ton) |
---|---|
Dingxin J2 | 7800 |
Dingxin J3 | 8100 |
Dingxin J1 | 8500 |
Dingxin J4 | 9100 |
Scrap Stainless Steel
The scrap stainless steel market has also seen a decline in prices, with the 304 scrap experiencing a drop of 30-50 yuan/ton. Merchants are cautious about their buying prices due to cost and profit considerations, and there is a general lack of willingness to sell among downstream suppliers.