In the past seven days, China’s domestic stainless steel prices have indicated a mostly stable trend, with some slight declines also seen.
Global nickel prices have fluctuated on a downward trend during the past week. On April 13, the three-month nickel price at the London Metal Exchange (LME) closed at $16,080/mt, while LME nickel inventory on the same date totaled 257,472 mt.
While domestic stainless steel prices have mostly moved sideways in the past week, prices of certain grades have moved down slightly due to high market inventory. The soft trend of nickel prices has also exerted some downward pressure on stainless steel prices. Overall trading activity has been at normal levels, while demand has increased recently. As for the week ahead, against the backdrop of the weakness of the cost side and increasing supply volumes, it is believed that domestic stainless steel prices may indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,100 |
2,004 |
0 |
1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,300 |
1,270 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,650 |
2,547 |
0 |
1 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,750 |
2,563 |
0 |
1 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,050 |
1,538 |
-150 |
-22 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,100 |
1,392 |
-100 |
-15 |
13 percent VAT is included in the above prices.
$1 = RMB 6.536