China’s domestic stainless steel prices have mostly rebounded by small margins during the past seven days.
Global nickel prices have moved up during the past week. On January 14, the three-month nickel price at the London Metal Exchange (LME) closed at $15,925/mt, while LME nickel inventory on the same date totaled 164,586 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the offseason and the approach of the Chinese New Year holiday, while prices have mostly moved up slightly supported by increases in nickel prices. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations as downstream buyers start to exit the market ahead of the holiday period.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,746 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,350 |
1,023 |
100 |
14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,750 |
1,913 |
100 |
14 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,000 |
1,809 |
100 |
14 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,300 |
1,016 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,000 |
974 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.188
