China’s domestic stainless steel prices have showed a decreasing trend during the past week.
Global nickel prices have fluctuated up slightly during the past week. On March 3, the three-month nickel price at the London Metal Exchange (LME) closed at $12,685/mt, while LME nickel inventory on the same date totaled 235,254 mt.
Domestic stainless steel prices have showed a downward trend during the past seven days and overall trading activity has increased is at normal levels. Traders are mostly under pressure due to tight funds and have been willing to reduce their prices in order to close more deals. Market inventory has risen slightly and demand volumes have also increased. As for the week ahead, given the soft trend of raw material prices, it is believed that stainless steel prices in China may mostly follow a slight downtrend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly Change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,200 |
1,611 |
-100 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,900 |
993 |
-150 |
-13 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,086 |
-400 |
-39 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
2,028 |
-250 |
-18 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,850 |
1,129 |
-50 |
3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,137 |
0 |
10 |
13 percent VAT is included in the above prices.
$1 = RMB 6.951
