China’s domestic stainless steel prices have most increased by small margins during the past seven days.
Global nickel prices have increased strongly during the past week. On February 27, the three-month nickel price at the London Metal Exchange (LME) closed at $17,545/mt, while LME nickel inventory on the same date totaled 69,786 mt.
Overall trading activity in the domestic stainless steel market has remained at a low level. Though nickel prices have increased strongly followed by stainless steel futures prices, the increases in stainless steel spot prices have been small as demand has not fully recovered and, after prices increased, trading activity has slackened further. As for the week ahead, it is believed that stainless steel prices may increase slightly again as demand improves.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,801 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,238 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,850 |
2,089 |
300 |
41 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,984 |
50 |
6 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,168 |
50 |
6 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,027 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.108