China’s domestic stainless steel prices have moved down slightly during the past seven days.
Global nickel prices have softened by a small margin during the past week. On April 29, the three-month nickel price at the London Metal Exchange (LME) closed at $15,630/mt, while LME nickel inventory on the same date totaled 201,564 mt.
Overall trading activity in the domestic stainless steel market has improved slightly over the past week and is considered to be at normal levels as the Labor Day holiday approaches, while prices have softened a little against the backdrop of small decreases in nickel prices. Also, most traders have been willing to reduce their quoted prices in order to close more deals before the holiday. As for the week ahead, it is believed that stainless steel prices will be mostly stable, with some small fluctuations possible.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,500 |
1,736 |
0 |
+3 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,350 |
1,021 |
-200 |
-26 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,700 |
1,903 |
-100 |
-11 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,200 |
1,833 |
-100 |
-11 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,450 |
1,035 |
-50 |
-5 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,750 |
937 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.201