China’s domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have fluctuated on a slightly downward trend during the past week. On January 14, the three-month nickel price at the London Metal Exchange (LME) closed at $13,890/mt, while LME nickel inventory on the same date totaled 177,600 mt.
Overall trading activity in the domestic stainless steel market has been slack during the past week. Since the Chinese New Year holiday is drawing closer, most downstream buyers are in holiday mood, and this has contributed to the further slackening of trading activity. Upstream producers are also getting ready for the holiday and their production volumes have continued to decline. As for the week ahead, it is believed that domestic stainless steel prices may remain stable before the holiday.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,641 |
0 |
14 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,100 |
1,031 |
0 |
9 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,250 |
2,215 |
0 |
19 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,750 |
2,142 |
0 |
19 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,169 |
0 |
10 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,147 |
0 |
10 |
13 percent VAT is included in the above prices.
$1 = RMB 6.885