China’s domestic stainless steel market prices have mostly followed a downtrend during the past week.
Global nickel prices have continued to fluctuate on a downward trend during the past week. On February 25, the three-month nickel price at the London Metal Exchange (LME) closed at $12,525/mt, while LME nickel inventory on the same date totaled 230,256 mt.
Domestic stainless steel prices of major product types showed a decreasing trend during the past week. Overall trading activity has increased but is still at low levels. The influence of the coronavirus has been reduced and production volumes have increased strongly. The downstream side is mostly recovering but still demand volumes are at weak levels. As for the week ahead, considering the weakness of nickel prices and the demand side, it is believed that domestic stainless steel prices may still follow a mostly downward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly Change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,611 |
0 |
-3 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,050 |
1,005 |
0 |
-2 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,900 |
2,125 |
-300 |
-46 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,350 |
2,046 |
-300 |
-46 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,900 |
1,126 |
-150 |
-23 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,126 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.013