China’s domestic stainless steel prices have edged up by small margins during the past seven days.
Global nickel prices have risen slightly during the past week. On January 16, the three-month nickel price at the London Metal Exchange (LME) closed at $16,240/mt, while LME nickel inventory on the same date totaled 69,012 mt.
Overall trading activity in the domestic stainless steel market has improved a little but is still on the weak side, while prices have indicated minor rises supported by the slight increases seen in prices of nickel and stainless steel futures. Downstream demand has picked up a little amid low inventory. As for the week ahead, considering the support from the cost side, it is believed that stainless steel prices may move sideways or up slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,750 |
1,791 |
0 |
-3 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,600 |
1,208 |
100 |
12 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,051 |
250 |
32 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,050 |
1,974 |
150 |
18 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,250 |
1,159 |
50 |
5 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,026 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.117