China’s domestic stainless steel prices have moved down by small margins during the past seven days.
Global nickel prices have softened during the past week. On February 14, the three-month nickel price at the London Metal Exchange (LME) closed at $26,485/mt, while LME nickel inventory on the same date totaled 46,710 mt.
Overall trading activity in the domestic stainless steel market has been weak, while market inventory has increased as production volumes have increased. Most traders have chosen to cut their quoted prices slightly in order to close more deals. As for the week ahead, it is believed that stainless steel prices may move down further by minor margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,039 |
0 |
-13 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,100 |
1,335 |
-50 |
-16 |
304/2B (1.0 x 1,219 x C) |
Taigang |
17,650 |
2,589 |
-200 |
-46 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,850 |
2,618 |
-100 |
-31 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,500 |
1,247 |
-50 |
-15 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,144 |
0 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.818
