China’s domestic stainless steel prices have mostly followed an upward trend during the past seven days.
Global nickel prices have increased during the past week. On March 11, the three-month nickel price at the London Metal Exchange (LME) closed at $16,480/mt, while LME nickel inventory on the same date totaled 199,308 mt.
With domestic stainless steel prices mostly moving up during the past week supported by rises in stainless steel prices, overall trading activity for stainless steel has become weak once again. Most downstream buyers are now maintaining a wait-and-see stance. As for the week ahead, while support from the cost side is still strong though demand has weakened, it is believed that stainless steel prices may indicate some small fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,750 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,500 |
1,046 |
100 |
14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,100 |
1,967 |
250 |
35 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,400 |
1,869 |
200 |
28 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,450 |
1,039 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
6,800 |
948 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.170
