China’s domestic stainless steel prices have either moved sideways or down slightly during the past seven days.
Global nickel prices have declined during the past week. On February 28, the three-month nickel price at the London Metal Exchange (LME) closed at $24,890/mt, while LME nickel inventory on the same date totaled 44,148 mt.
Overall trading activity in the domestic stainless steel market has been weak and most downstream buyers have maintained a wait-and-see stance since nickel prices have softened. As for the week ahead, considering the demand side may remain weak, it is believed that stainless steel prices may again move sideways or down slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,850 |
1,996 |
0 |
-19 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,050 |
1,304 |
0 |
-12 |
304/2B (1.0 x 1,219 x C) |
Taigang |
17,550 |
2,529 |
0 |
-24 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,550 |
2,529 |
-150 |
-45 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,196 |
-100 |
-26 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,124 |
0 |
-10 |
13 percent VAT is included in the above prices.
$1 = RMB 6.940