China’s domestic stainless steel prices have mostly followed an upward trend during the past seven days.
Global nickel prices have increased week on week, have first increased during the week and then started to soften. On January 25, the three-month nickel price at the London Metal Exchange (LME) closed at $22,380/mt, while LME nickel inventory on the same date totaled 92,688 mt.
Domestic stainless steel prices have increased during the past week supported by higher stainless steel futures prices and nickel prices. Overall trading activity has been sluggish as the Chinese New Year holiday is drawing closer. As for the week ahead, as trading activity may be close to zero with the holiday period due to start, it is believed that domestic stainless steel prices may move sideways.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,100 |
2,387 |
+300 |
+61 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,250 |
1,621 |
+100 |
+25 |
304/2B (1.0 x 1,219 x C) |
Taigang |
19,700 |
3,115 |
+500 |
+97 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
19,850 |
3,138 |
+700 |
+128 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,000 |
1,423 |
0 |
+8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,455 |
0 |
+8 |
13 percent VAT is included in the above prices.
$1 = RMB 6.325
