China’s domestic stainless steel prices have showed a stable trend during the past seven days.
Global nickel prices have declined during the past week. On January 17, the three-month nickel price at the London Metal Exchange (LME) closed at $26,575/mt, while LME nickel inventory on the same date totaled 52,638 mt.
Overall trading activity has been very slow due to the approach of the Chinese New Year holiday. Buyers and traders are mostly on holiday. As for the week ahead, it is believed that stainless steel prices will continue their stable trend.
|
Spec. – Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,056 |
0 |
5 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,100 |
1,346 |
0 |
3 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,100 |
2,678 |
0 |
6 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,550 |
2,596 |
0 |
6 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,400 |
1,243 |
0 |
3 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,154 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.760