China's domestic stainless steel prices are mostly unchanged compared to one week ago.
Global nickel prices have increased slightly during the past week. On February 28, the three-month nickel price at the London Metal Exchange (LME) closed at $10,980mt, while LME nickel inventory on the same date totaled 377,466 mt.
Domestic stainless steel prices in China first increased during the early part of the past week on the back of rising raw material prices, but then started to trend back down as traders reduced prices in order to bring in cash as the end of the month drew closer. Accordingly, most prices returned to the same levels as one week ago. It is believed that domestic stainless steel prices will increase in the coming week, especially as traders will no longer be facing end-of-month pressure to bring in cash.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 10,400 | 1,514 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,700 | 1,412 | 0 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 17,200 | 2,504 | 0 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 17,050 | 2,482 | ↑400 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,200 | 1,339 | 0 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 9,300 | 1,354 | 0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.87