China’s domestic stainless steel prices have followed a soft trend for 304 series products during the past seven days.
Global nickel prices have moved down during the past week. On January 13, the three-month nickel price at the London Metal Exchange (LME) closed at $17,600/mt, while LME nickel inventory on the same date totaled 284,148 mt.
Overall trading activity in the domestic stainless steel market is still at normal levels, while the prices of the main 304 series products have declined amid the decreases seen in nickel prices and in stainless steel futures prices, against the backdrop of the uncertainty surrounding Indonesia's nickel ore export policy. As for the week ahead, it is believed that stainless steel prices may fluctuate on a soft trend.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,200 | 1,740 | 0 | 2 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,850 | 1,120 | 50 | 8 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 14,650 | 2,089 | -300 | -41 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,800 | 1,968 | -200 | -27 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,084 | 50 | 8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 970 | 0 | 1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.012
