China’s domestic stainless steel prices have decreased slightly during the past seven days.
Global nickel prices have softened during the past week. On April 26, the three-month nickel price at the London Metal Exchange (LME) closed at $33,050/mt, while LME nickel inventory on the same date totaled 72,738 mt.
Overall trading activity in the domestic stainless steel market has increased but is still at just normal levels since eastern China remains impacted by public healthy measures. Market inventory levels have continued to rise and traders have mostly been willing to reduce their quoted prices in order to close more deals. As for the week ahead, with demand likely to continue to recover slightly, it is believed that stainless steel prices may fluctuate slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,700 |
2,393 |
-100 |
-75 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,350 |
1,578 |
-100 |
-55 |
304/2B (1.0 x 1,219 x C) |
Taigang |
21,500 |
3,277 |
-100 |
-98 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,750 |
3,163 |
-250 |
-118 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,463 |
-150 |
-60 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,150 |
1,395 |
-50 |
-43 |
13 percent VAT is included in the above prices.
$1 = RMB 6.560
