Local Chinese stainless steel prices mostly increase

Wednesday, 13 February 2019 17:11:59 (GMT+3)   |   Shanghai,  Shanghai
       

China’s domestic stainless steel prices have mostly increased from pre-holiday levels, while some prices have moved sideways.

Global nickel prices have fluctuated on a rising trend during the past week. On February 12, the three-month nickel price at the London Metal Exchange (LME) closed at $12,410/mt, while LME nickel inventory on the same date totaled 199,602 mt.

Overall trading activity in the Chinese domestic stainless steel market has been at low levels since most traders and downstream buyers are still on holiday. The price increases in the market have been driven by higher nickel prices. Considering that nickel prices are still at high levels and that demand will improve, it is believed that domestic stainless steel prices will follow an upward trend in the week ahead.

Specification (mm)

Region

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Change (RMB/mt)
(30.01.2019)

202/No.1 (3.0 x 120 x C)

Foshan/Lecong

Guangzhou Lianzhong

10,000

1,479

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

8,900

1,317

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,400

2,278

150

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

15,000

2.,219

100

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

8,050

1,191

50

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

8,200

1,213

0

16 percent VAT is included in the above prices.

$1 = RMB 6.76


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