China’s domestic stainless steel prices have followed an upward trend during the past seven days.
Global nickel prices have increased during the past week. On January 31, the three-month nickel price at the London Metal Exchange (LME) closed at $30,410/mt, while LME nickel inventory on the same date totaled 49,374 mt.
Overall trading activity in the domestic stainless steel market has been at a low level since downstream demand has not fully recovered. Many traders have chosen to increase their quoted prices since raw material prices indicated an upward trend during the Chinese New Year holiday period. As for the week ahead, considering the recovery of demand, it is believed that stainless steel prices may continue to follow an upward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,060 |
0 |
3 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,100 |
1,348 |
0 |
2 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,950 |
2,660 |
-150 |
-18 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,950 |
2,660 |
400 |
63 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,500 |
1,259 |
100 |
17 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,156 |
0 |
2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.749