China’s domestic stainless steel prices have mostly followed a stable trend during the past seven days.
Global nickel prices have fluctuated on a soft trend during the past week. On February 2, the three-month nickel price at the London Metal Exchange (LME) closed at $17,730/mt, while LME nickel inventory on the same date totaled 249,102 mt.
Domestic stainless steel prices have followed a mostly stable trend in the past week, though prices of some hot rolled types increased. Upstream nickel prices have followed a downward trend, but prices of other raw materials have increased, providing some support for stainless steel prices, especially for hot rolled products. As for the week ahead, considering most traders and buyers are already on holiday and that trading will become very quiet, it is believed that stainless steel prices in China may also follow a stable trend during the coming week.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,150 |
1,724 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,250 |
1,276 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,350 |
2,528 |
0 |
0 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,550 |
2,559 |
0 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,150 |
1,570 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,800 |
1,361 |
400 |
62 |
13 percent VAT is included in the above prices.
$1 = RMB 6.467