China’s domestic stainless steel prices have followed an upward trend during the past seven days.
Global nickel prices have increased during the past week. On February 15, the three-month nickel price at the London Metal Exchange (LME) closed at $23,370/mt, while LME nickel inventory on the same date totaled 84,474 mt.
Overall trading activity in the domestic stainless steel market has improved slightly in the past week, but has still not fully recovered after the long holiday. Prices in the market have increased on the back of higher prices of nickel and stainless steel futures. Meanwhile, buyers’ inventories are low and so most traders believe demand will increase and they have increased their quoted prices. As for the week ahead, domestic stainless steel prices are expected to continue their upward trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,500 |
2,442 |
+400 |
+70 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,700 |
1,686 |
+450 |
+76 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,700 |
3,262 |
+600 |
+104 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,600 |
3,246 |
+500 |
+88 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,500 |
1,497 |
+200 |
+36 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,450 |
0 |
+4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.346
