China’s domestic stainless steel prices have mostly softened during the past seven days though in some areas where supply was impacted by coronavirus restrictions prices actually increased.
Global nickel prices have risen during the past week. On April 19, the three-month nickel price at the London Metal Exchange (LME) closed at $33,705/mt, while LME nickel inventory on the same date totaled 72,534 mt.
Most traders have cut their stainless steel prices by small margins in order to boost sales and reduce their stock levels. Demand especially in eastern China has remained weak. As for the week ahead, it is believed that stainless steel prices may fluctuate slightly, while supply may increase and support from the cost side is expected to remain strong.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,800 |
2,469 |
-150 |
-33 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,450 |
1,633 |
-150 |
-30 |
304/2B (1.0 x 1,219 x C) |
Taigang |
21,600 |
3,375 |
-600 |
-107 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,000 |
3,281 |
-100 |
-29 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,750 |
1,523 |
-100 |
-22 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,438 |
0 |
-6 |
13 percent VAT is included in the above prices.
$1 = RMB 6.400
