China’s domestic stainless steel prices have continued to follow an upward trend during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On January 27, the three-month nickel price at the London Metal Exchange (LME) closed at $18,235/mt, while LME nickel inventory on the same date totaled 285,726 mt.
Overall trading activity in the Chinese domestic stainless steel market has been at normal levels in the past week, while prices have continued to rise, supported by the upward trends of nickel prices and of stainless steel futures prices. As for the week ahead, it is believed that local stainless steel prices will again move on a rising trend.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,770 |
+50 |
+13 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
8,000 |
1,147 |
+100 |
+18 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,200 |
2,179 |
+300 |
+51 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,500 |
2,079 |
+100 |
+22 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,650 |
1,097 |
0 |
+4 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,900 |
989 |
0 |
+4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.976
