China’s domestic stainless steel prices have fluctuated by small margins during the past seven days.
Global nickel prices have edged up during the past week. On March10, the three-month nickel price at the London Metal Exchange (LME) closed at $17,558/mt, while LME nickel inventory on the same date totaled 287,088 mt.
Overall trading activity in the domestic stainless steel market has improved and is now at normal levels due to the recovery of demand. Most traders are waiting for a further recovery of demand before increasing their prices in line with the upticks in nickel prices. As for the week ahead, since support from the cost side is strong, it is believed that stainless steel prices may move up by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,792 |
0 |
5 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,950 |
1,154 |
0 |
3 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,200 |
2,205 |
50 |
14 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,550 |
2,111 |
-150 |
-16 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,650 |
1,110 |
0 |
3 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,900 |
1,001 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.892
