China’s domestic stainless steel prices have mostly increased after the Chinese New Year holiday.
Global nickel prices have risen during the past week. On February 9, the three-month nickel price at the London Metal Exchange (LME) closed at $22,740/mt, while LME nickel inventory on the same date totaled 85,890 mt.
Overall trading activity in the domestic stainless steel market has not yet recovered fully and is at very low levels, while prices have risen mainly due to the support from higher prices of nickel and other steel products. As for the week ahead, it is believed that stainless steel prices will increase as demand will continue to improve and as support from the cost side is still strong.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,100 |
2,372 |
0 |
-15 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,250 |
1,610 |
0 |
-10 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,100 |
3,158 |
400 |
43 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,100 |
3,158 |
250 |
20 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,300 |
1,461 |
300 |
38 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,445 |
0 |
-9 |
13 percent VAT is included in the above prices.
$1 = RMB 6.365
