China’s domestic stainless steel prices mostly indicated slight increases week on week.
Global nickel prices have softened week on week, first declining and then rebounding. On April 16, the three-month nickel price at the London Metal Exchange (LME) closed at $17,845/mt, while LME nickel inventory on the same date totaled 74,664 mt.
Overall trading activity in the domestic stainless steel market has been normal during the past week since the demand side mostly holds low inventory levels, while stainless steel prices first softened and then started to recover, following the trend of nickel prices and the rebound of stainless steel futures prices. As for the week ahead, considering that demand may continue at normal levels and that support from the cost side is still strong, it is believed that stainless steel prices may move up by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
-2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,190 |
50 |
6 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,450 |
2,034 |
200 |
26 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,850 |
1,950 |
250 |
33 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,147 |
0 |
-1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.103