China’s domestic stainless steel prices have followed a soft trend during the past seven days.
Global nickel prices have showed a downward trend during the past week. On April 25, the three-month nickel price at the London Metal Exchange (LME) closed at $23,195/mt, while LME nickel inventory on the same date totaled 40,908 mt.
Overall trading activity in the domestic stainless steel market has declined and is considered to be weak, while prices have declined due to decreases in upstream prices. Traders mostly hold a negative view and are not willing to increase stock levels. Stainless steel futures prices have been declining, though the decrease margins have been smaller in recent days. As for the week ahead, it is believed that domestic stainless steel prices may indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,100 |
1,892 |
-100 |
-29 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,271 |
0 |
-9 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,050 |
2,318 |
-400 |
-75 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,450 |
2,231 |
-400 |
-75 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,700 |
1,112 |
-200 |
-37 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,700 |
1,112 |
-200 |
-37 |
13 percent VAT is included in the above prices.
$1 = RMB 6.924