China’s domestic stainless steel prices have continued their decreasing trend during the past seven days.
Global nickel prices have risen slightly during the past week. On December 10, the three-month nickel price at the London Metal Exchange (LME) closed at $13,415/mt, while LME nickel inventory on the same date totaled 83,520 mt.
Domestic stainless steel prices have continued their downward trend in the past week, while trading activity has been at normal levels. The soft trend of stainless steel futures prices in China has contributed to the declines in most domestic stainless steel spot prices. The lack of strong restrictions on stainless production volumes has meant that there is less support for stainless steel prices. However, as the Chinese New Year is drawing closer, producers may reduce supply volumes. Market inventory has continued to decrease as demand has remained at normal levels. As for the week ahead, it is believed that domestic stainless steel prices may indicate a further slight softening.
|
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
|
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,300 |
1,605 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,100 |
1,009 |
-100 |
-14 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,450 |
2,195 |
-100 |
-15 |
|
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,850 |
2,110 |
-250 |
-36 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,100 |
1,151 |
-100 |
-14 |
|
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,122 |
0 |
0 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 7.04