China’s domestic stainless steel prices have mostly moved up slightly during the past week.
Global nickel prices have increased during the past week. On January 18, the three-month nickel price at the London Metal Exchange (LME) closed at $22,080/mt, while LME nickel inventory on the same date totaled 94,872 mt.
Overall trading activity in the domestic stainless steel market has increased and is at normal levels. The prices of the main types of stainless steel products have increased supported by higher nickel and stainless steel futures prices. Prices of 400 series products have softened due to high inventory and low demand. As for the week ahead, considering demand may weaken ahead of the Chinese New Year holiday, it is believed that stainless steel prices may move down a little.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,800 |
2,326 |
0 |
1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,150 |
1,595 |
0 |
1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
19,200 |
3,018 |
300 |
49 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
19,150 |
3,010 |
550 |
88 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,000 |
1,415 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,446 |
-50 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.362
