China’s domestic stainless steel prices have fluctuated in the past seven days, with prices now up slightly or at the same levels compared to one week ago.
Global nickel prices have moved up week on week, having first increased in the past week and then softened. On March 29, the three-month nickel price at the London Metal Exchange (LME) closed at $31,900/mt, while LME nickel inventory on the same date totaled 72,630 mt.
Domestic stainless steel prices have either increased slightly or are at the same levels compared to one week ago. Overall trading activity has been weak due to coronavirus measures. As for the week ahead, amid the uncertainty regarding the coronavirus situation in China and support from the cost side, it is believed that stainless steel prices may follow a fluctuating trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,250 |
2,556 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,950 |
1,723 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,100 |
3,476 |
+100 |
+15 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,350 |
3,359 |
+250 |
+39 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,900 |
1,557 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,447 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.357
