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.