China’s domestic stainless steel market prices have continued to move down by a small margin in the past seven days.
Global nickel prices have fluctuated on a slightly soft trend during the past week. On April 7, the three-month nickel price at the London Metal Exchange (LME) closed at $11,430/mt, while LME nickel inventory on the same date totaled 228,606 mt.
The decrease margin in domestic stainless steel prices has been relatively small over the past week. Overall trading activity has increased and is at normal levels. Overseas supplies of raw materials have not been impacted by the coronavirus to the extent previously expected and so Chinese stainless steel producers have mostly maintained their production volumes, with the relatively high supply continuing to exert pressure on stainless steel prices. As for the week ahead, it is believed that local stainless steel prices may continue to be characterized by a slightly soft trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,200 |
1,611 |
-100 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,900 |
993 |
-150 |
-13 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,086 |
-400 |
-39 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
2,028 |
-250 |
-18 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,850 |
1,129 |
-50 |
+3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,137 |
0 |
+10 |
13 percent VAT is included in the above prices.
$1 = RMB 7.013
