China’s domestic 300 series stainless steel prices have softened in the past seven days, while local prices of other stainless products have remained stable.
Global nickel prices have fluctuated on a downward trend during the past week. On January 7, the three-month nickel price at the London Metal Exchange (LME) closed at $13,910/mt, while LME nickel inventory on the same date totaled 161,436 mt.
Overall trading activity in the local Chinese stainless steel market has been at normal levels. Considering that the Chinese New Year holiday is approaching, both supply volumes and demand will decline. Against this backdrop, it is believed that local stainless steel prices may follow a mostly stable trend in the coming week, with slight downticks also possible since some traders may be willing to reduce their prices in order to close more deals.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,627 |
0 |
14 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,100 |
1,022 |
0 |
9 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,250 |
2,196 |
-250 |
-16 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,750 |
2,124 |
-150 |
-3 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,159 |
0 |
10 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,138 |
0 |
10 |
13 percent VAT is included in the above prices.
$1 = RMB 6.945