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 $10 to $16,740 per ton, with a weak market trend observed.
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.