China’s domestic stainless steel market prices have continued their stable trend during the past seven days.
Global nickel prices have fluctuated on a downward trend during the past week. On January 21, the three-month nickel price at the London Metal Exchange (LME) closed at $13,775/mt, while LME nickel inventory on the same date totaled 187,782 mt.
Domestic stainless steel prices have continued their stable trend during the past week as the Chinese New Year holiday is about to start. Trading activity has been at very low levels since most downstream buyers have already left the market for their holidays. Stainless producers have mostly decreased production volumes to low levels. Market inventory has recently increased. Overall, domestic stainless steel prices are expected to remain unchanged during the holiday period.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,641 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,100 |
1,031 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,250 |
2,215 |
0 |
0 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,750 |
2,142 |
0 |
0 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,169 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,147 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.885