China’s domestic stainless steel market prices have indicated a slight fall during past week.
Global nickel price has continued their upward trend during past week. On December 24, the three-month nickel price at the London Metal Exchange (LME) closed at $14,315/mt, while LME nickel inventory on the same date totaled 143,190 mt.
In line with the fluctuation in the LME three month nickel prices observed during past week, domestic stainless market prices in China have also decreased at first but then rebounded, closing the week with a slight fall week on week. Domestic demand in the local stainless steel market has recently increased but considering the approaching end of the year, traders may be willing to offer certain discount in order to close more deals. Stainless steel inventory in China has increased but the support from nickel market and stainless producers are still strong. As for the week ahead, it is believed that stainless market prices may fluctuate with a slight fall.
Spec. - Grade (mm) |
Origin |
Price |
Weekly Change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,613 |
0 |
-2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,100 |
1,013 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,500 |
2,212 |
-50 |
-10 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,900 |
2,126 |
-50 |
-10 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,149 |
0 |
-2 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,127 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.997