China’s domestic stainless steel market prices have mostly continued to follow a decreasing trend during the past seven days, though some prices have moved sideways.
Global nickel prices have fluctuated on an upward trend during the past week. On March 31, the three-month nickel price at the London Metal Exchange (LME) closed at $11,470/mt, while LME nickel inventory on the same date totaled 229,812 mt.
Domestic stainless market prices have mostly continued to decline in the past week. Overall trading activity has increased and is at normal levels. With nickel prices recently rebounding, some traders of stainless steel have limited their price decrease margins and trading volumes have increased. Downstream demand is still recovering. Since market prices are close to cost level, stainless steel prices may follow a mostly stable trend during the coming period. But considering the domestic macroeconomic situation, the trend of the local stainless steel market may be characterized by some softness in the longer term.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly Change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,000 |
1,554 |
0 |
-1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,350 |
897 |
-150 |
-22 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
13,450 |
1,901 |
-300 |
-43 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,700 |
1,936 |
0 |
-1 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,200 |
1,017 |
-200 |
-29 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,600 |
1,074 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.077