China’s domestic stainless steel prices have followed a downward trend during the past seven days.
Global nickel prices have rebounded strongly during the past week. On April 15, the three-month nickel price at the London Metal Exchange (LME) closed at $15,535/mt, while LME nickel inventory on the same date totaled 202,818 mt.
Overall trading activity in the domestic stainless steel market has declined and is currently weak. As the US tariff policy continues to exert pressure on the markets, most traders have chosen to reduce their quoted prices and are reluctant to increase their stock levels. However, nickel prices have moved up significantly, which may provide support for stainless steel prices. As for the week ahead, it is believed that domestic stainless steel prices may rebound slightly.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,500 | 1,733 | -50 | -8 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,550 | 1,047 | -100 | -15 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,800 | 1,913 | -150 | -22 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,300 | 1,844 | -300 | -43 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,500 | 1,040 | -50 | -8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 943 | 0 | -1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.213