China’s domestic stainless steel prices are mostly unchanged week on week, having risen first in the past week and softened later.
Global nickel prices have increased during the past week. On February 22, the three-month nickel price at the London Metal Exchange (LME) closed at $24,485/mt, while LME nickel inventory on the same date totaled 82,314 mt.
Overall trading activity has been weak. Prices have been supported by higher nickel prices, but have some under downward pressure from weak demand and high inventories. Coronavirus measures in certain regions of the country have kept local demand at low levels. As for the week ahead, it is believed that stainless steel prices may soften slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,500 |
2,448 |
0 |
6 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,700 |
1,690 |
0 |
4 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,700 |
3,270 |
0 |
8 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,600 |
3,254 |
0 |
8 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,516 |
100 |
19 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,453 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.331
