China’s domestic stainless steel prices have indicated an upward trend in the past seven days.
Global nickel prices have increased during the past week. On January 5, the three-month nickel price at the London Metal Exchange (LME) closed at $17,730/mt, while LME nickel inventory on the same date totaled 247,944 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while market inventory levels and supply volumes have remained low, providing support for stainless steel prices. As for the week ahead, considering the strong performance of the nickel market and the support from low inventory, it is believed that stainless steel prices in China may continue to follow an upward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,718 |
0 |
19 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,050 |
1,246 |
400 |
75 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,850 |
2,454 |
350 |
81 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,350 |
2,376 |
250 |
65 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,800 |
1,517 |
200 |
48 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,200 |
1,269 |
200 |
45 |
13 percent VAT is included in the above prices.
$1 = RMB 6.460