China's domestic stainless steel market has mostly moved on a downward trend during the past seven days.
Global nickel prices have fluctuated on a rising trend in the past week. On February 14, the three-month nickel price at the London Metal Exchange (LME) closed at $10,770/mt, while LME nickel inventory on the same date totaled 381,546 mt.
Domestic stainless steel prices have mostly decreased during the past week amid the ongoing weakness of trading activity as downstream demand still needs time to recover after the recent holiday. At the same time, low inventories of some stainless products resulted in upticks in prices of the products in question. It is believed that domestic stainless steel prices will be characterized by a stable or slightly soft trend in the week ahead.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,900 | 1,443 | 0 |
201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 9,100 | 1,327 | ↓600 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 16,850 | 2,456 | ↓50 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 16,650 | 2,427 | ↑100 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 9,100 | 1,327 | ↓200 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 9,300 | 1,356 | ↓200 |
17 percent VAT is included in the above prices.
$1 = RMB 6.86