China’s domestic stainless steel prices have followed a mostly stable trend during the past week.
Global nickel price have showed a slight upward trend during the past week. On April 22, the three-month nickel price at the London Metal Exchange (LME) closed at $15,790/mt, while LME nickel inventory on the same date totaled 206,430 mt.
LME three-month nickel price has moved slightly upward during the past week. Domestic stainless steel prices have remained stable during the past week. Overall trading activity has been weak. Recently, nickel prices have increased but stainless steel futures prices have indicated a downward trend. Most traders choose to maintain their wait and see stance. Certain traders are willing to offer slight discounts in order to close more deals. As for the week ahead, it is believed that stainless steel prices may see fluctuations in a limited range.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,500 |
1,733 |
0 |
0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,550 |
1,047 |
0 |
0 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,800 |
1,913 |
0 |
0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,300 |
1,844 |
0 |
0 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,500 |
1,040 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,750 |
936 |
-50 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 7.212
