China’s domestic stainless steel prices have fluctuated during the past week, mostly declining slightly week on week.
Global nickel prices have softened during the past week. On April 12, the three-month nickel price at the London Metal Exchange (LME) closed at $32,510/mt, while LME nickel inventory on the same date totaled 73,230 mt.
Trading in the domestic stainless steel market has been slack due to the impact of coronavirus restriction measures. Supply and inventory have improved a little recently. As for the week ahead, it is believed that stainless steel prices may fluctuate at high levels supported by raw material costs.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,950 |
2,502 |
-300 |
-45 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,600 |
1,663 |
-300 |
-46 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,200 |
3,482 |
100 |
+18 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,100 |
3,310 |
-250 |
-37 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,850 |
1,545 |
0 |
+1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,443 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.375
