China’s domestic stainless steel prices have indicated minor fluctuations during the past seven days.
Global nickel prices have softened during the past week. On February 7, the three-month nickel price at the London Metal Exchange (LME) closed at $27,545/mt, while LME nickel inventory on the same date totaled 49,716 mt.
Overall trading activity in the local stainless steel market has been weak as demand has not fully recovered after the long holiday. Certain traders have chosen to slightly reduce their quoted prices in order to close more deals. Market inventory levels have increased, which exerts pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may continue to indicate small fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,052 |
0 |
-8 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,150 |
1,351 |
+50 |
+2 |
304/2B (1.0 x 1,219 x C) |
Taigang |
17,850 |
2,635 |
-100 |
-25 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,950 |
2,649 |
0 |
-10 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,550 |
1,262 |
+50 |
+3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,151 |
0 |
-4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.775