China’s domestic stainless steel prices have increased by small margins during the past seven days.
Global nickel prices have returned to normal levels during the past week. On March 22, the three-month nickel price at the London Metal Exchange (LME) closed at $28,485/mt, while LME nickel inventory on the same date totaled 73,578 mt.
After stainless steel prices returned to normal levels in the previous week, trading activity has increased a little, but most areas of the country are still impacted by coronavirus measures which have negatively influenced demand and transportation. Support from the cost side is still strong and market inventories are still low. As for the week ahead, considering the support from the cost side is still strong, it is believed that stainless steel prices may follow a fluctuating trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,250 |
2,557 |
600 |
104 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,950 |
1,723 |
150 |
30 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,000 |
3,461 |
100 |
29 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,100 |
3,320 |
300 |
60 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,900 |
1,558 |
0 |
6 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,447 |
0 |
5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.356
