China’s domestic stainless steel prices have indicated a mostly upward trend during the past seven days.
Global nickel prices have indicated a sharply upward trend during the past week. On December 15, the three-month nickel price at the London Metal Exchange (LME) closed at $17,655/mt, while LME nickel inventory on the same date totaled 244,236 mt.
Domestic stainless steel prices have followed an upward trend during the past week. Overall trading activity has improved slightly and been at normal levels. With upstream nickel prices showing a sharp uptrend, producers and traders have mostly increased their stainless steel prices. Market inventory is still low, while the demand side has mostly maintained a wait-and-see stance since prices have increased sharply and also given the current off-season. As for the week ahead, considering the low supply volume and low market inventory, and ongoing support from upstream costs, it is believed that domestic stainless steel prices may fluctuate on an upward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,698 |
0 |
-1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,200 |
1,102 |
200 |
30 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,600 |
2,387 |
600 |
90 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,650 |
2,394 |
350 |
52 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,450 |
1,446 |
150 |
22 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,700 |
1,178 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.536