China’s domestic stainless steel market prices have showed a mostly slightly upward trend during past week.
Global nickel price has showed an upward trend during past week. On December 17, the three-month nickel price at the London Metal Exchange (LME) closed at $14,025/mt, while LME nickel inventory on the same date totaled 130,224 mt.
In the given period, prices of certain stainless steel products in China increased slightly, while overall trading activity has recovered and is now at normal levels. Nickel prices have showed a rebounding trend which lead stainless producers mostly to increase their prices slightly. Due to the off season, demand of most types are still weak and therefore only the prices of major types increased. Meanwhile, market inventory level recently has slightly reduced but supply volume has not seen any declines. As for the week ahead, it is expected that domestic stainless steel prices in China may follow a fluctuation with slightly upward trend.
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,300 |
1,615 |
0 |
+10 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,100 |
1,015 |
0 |
+6 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,550 |
2,222 |
+100 |
+27 |
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,950 |
2,137 |
+100 |
+27 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,050 |
1,150 |
-50 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,129 |
0 |
+7 |
The prices are all ex-mill, including 13 percent VAT.
$1 = RMB 6.997
