China’s domestic stainless steel prices have mostly continued their downward trend during the past week.
Global nickel prices have risen slightly during the past week. On December 7, the three-month nickel price at the London Metal Exchange (LME) closed at $20,180/mt, while LME nickel inventory on the same date totaled 110,358 mt.
Domestic stainless steel prices have mostly continued to decline during the past week. Overall trading activity has remained weak. Stainless producers have reduced their quoted prices lately, especially for 300 series products. Meanwhile, supply has increased strongly. As for the week ahead, considering the weakness of demand and increasing supply, it is believed that domestic stainless steel prices may fluctuate in a downward direction.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,800 |
2,324 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,950 |
1,563 |
-400 |
-63 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,500 |
2,905 |
-900 |
-141 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,450 |
2,740 |
-850 |
-133 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,200 |
1,445 |
-200 |
-31 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,700 |
1,523 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.368