China’s domestic stainless steel prices have mostly continued a slightly soft trend during the past week.
Global nickel prices have increased by small margins during the past week. On November 26, the three-month nickel price at the London Metal Exchange (LME) closed at $15,980/mt, while LME nickel inventory on the same date totaled 158,952 mt.
Overall trading activity in the local Chinese stainless steel has remained slack in the past week, amid weak demand due to the offseason and cold weather, causing most traders to reduce their quoted prices in order to close more deals as the end of the month draws closer. As for the week ahead, it is believed that stainless steel prices may continue their slight downtrend as demand is expected to remain weak.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,744 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,450 |
1,035 |
-100 |
-14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,000 |
1,945 |
-150 |
-22 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,200 |
1,834 |
-100 |
-15 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,350 |
1,021 |
-50 |
-8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,000 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.198