Demand still needs time to recover in Chinese domestic stainless steel market

Thursday, 16 February 2017 11:46:46 (GMT+3)   |   Shanghai
       

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


 


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