China’s domestic stainless steel prices have showed a decreasing trend during the past seven days.
Global nickel prices have followed a downward trend during the past week. On March 14, the three-month nickel price at the London Metal Exchange (LME) closed at $23,010/mt, while LME nickel inventory on the same date totaled 44,142 mt.
Overall trading activity in the domestic stainless steel market has been slack since most downstream users have maintained a wait-and-see stance due to declines in both raw material prices and stainless steel futures prices. Traders have mostly been willing to offer lower prices in order to close more deals. As for the week ahead, considering the weakness of demand, it is believed that stainless steel prices may continue to decrease, though by smaller margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,850 |
2,017 |
0 |
+25 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,850 |
1,289 |
-100 |
+1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
16,850 |
2,453 |
-550 |
-49 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,850 |
2,453 |
-600 |
-56 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,179 |
-100 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,136 |
0 |
+14 |
13 percent VAT is included in the above prices.
$1 = RMB 6.868 (March 15)