China’s domestic stainless steel prices have continued their slight downtrend during the past seven days.
Global nickel prices have risen by small margins during the past week. On December 3, the three-month nickel price at the London Metal Exchange (LME) closed at $16,095/mt, while LME nickel inventory on the same date totaled 164,430 mt.
Overall trading activity in the domestic stainless steel market has been weak due to the offseason and the cold weather. Although the cost side is still strong, most traders remain willing to reduce their quoted prices in order to close more deals as the end of the year approaches. As for the week ahead, it is believed that domestic stainless steel prices may continue their slightly soft trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,745 |
0 |
1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,400 |
1,029 |
-50 |
-6 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,900 |
1,932 |
-100 |
-13 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,150 |
1,828 |
-50 |
-6 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,350 |
1,022 |
0 |
1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,001 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.193
