China’s domestic stainless steel prices have followed a fluctuating trend during the past seven days.
Global nickel prices have softened slightly during the past week. On March 23, the three-month nickel price at the London Metal Exchange (LME) closed at $16,045/mt, while LME nickel inventory on the same date totaled 260,928 mt.
Domestic stainless steel prices have shown varied fluctuations during the past week. 200 series prices have been supported by producers and indicated a slight uptrend, while prices of 300 and 400 series stainless products have been characterized by a certain softness due to high market inventory levels and the weakness of the cost side. Overall trading activity in the domestic stainless steel market has increased and is currently at normal levels. Production volumes have increased recently, exerting a certain degree of pressure on stainless steel prices. As for the week ahead, considering the weakening of support from the cost side, it is believed that domestic stainless steel prices may fluctuate on a slightly soft trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,100 |
2,008 |
200 |
23 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,300 |
1,272 |
100 |
10 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,700 |
2,560 |
0 |
-10 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,850 |
2,583 |
-200 |
-41 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,400 |
1,594 |
-50 |
-14 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,300 |
1,426 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.523