China’s domestic stainless steel prices have fluctuated within a limited range during the past week.
Global nickel price has showed an upward trend during the past week. On December 23, the three-month nickel price stand at the London Metal Exchange (LME) closed at $29,800/mt, while LME nickel inventory on the same date totaled 54,300mt.
Overall trading activity has remained weak amid off-season. Market inventory level has increased slightly, putting certain pressure on stainless steel prices. Downstream users are not willing to increase stock levels for now. As for the week ahead, considering that the demand remains weak, it is believed that stainless steel prices may see slight declines.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
1,995 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,050 |
1,299 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
17,950 |
2,576 |
0 |
-1 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,400 |
2,497 |
-100 |
-15 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,170 |
350 |
50 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,119 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.968