China’s domestic stainless steel prices have moved down by small margins during the past seven days.
Global nickel prices have indicated small decreases during the past week. On January 7, the three-month nickel price at the London Metal Exchange (LME) closed at $15,440/mt, while LME nickel inventory on the same date totaled 165,366 mt.
Overall trading activity in the Chinese stainless steel market has remained slow in the past week, while market inventories have remained at high levels, also exerting downward pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may indicate a slight softening again.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,746 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,250 |
1,008 |
-50 |
-7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,650 |
1,899 |
-200 |
-28 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
12,900 |
1,794 |
-100 |
-14 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,300 |
1,015 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,000 |
974 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.189
