China’s domestic stainless steel prices have showed a sideways or slightly upward trend during the past seven days.
Global nickel prices have increased during the past week. On January 30, the three-month nickel price at the London Metal Exchange (LME) closed at $16,545/mt, while LME nickel inventory on the same date totaled 70,068 mt.
Overall trading activity in the domestic stainless steel market has been at very low levels since downstream buyers are already mostly on holiday. Prices of nickel and stainless steel futures prices have followed an upward trend, causing many traders and stainless steel producers to follow suit. As for the week ahead, it is believed that stainless steel prices may follow a stable trend ahead of the holiday period.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,239 |
50 |
7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,700 |
2,069 |
100 |
14 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,985 |
0 |
0 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,250 |
1,161 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.104