China’s domestic stainless steel prices have mostly remained stable in the past seven days.
Global nickel prices have risen strongly during the past week. On April 6, the three-month nickel price at the London Metal Exchange (LME) closed at $16,720/mt, while LME nickel inventory on the same date totaled 259,398 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels. While nickel prices have risen lately, prices of other raw materials have indicated a soft trend. Demand for stainless steel is at normal levels. Market inventory is on the low side, which gives support for stainless steel prices. As for the week ahead, it is believed that stainless steel prices in China may indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,100 |
2,004 |
0 |
10 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,300 |
1,270 |
0 |
6 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,650 |
2,547 |
0 |
13 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,750 |
2,562 |
-100 |
-2 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,200 |
1,560 |
0 |
8 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,407 |
0 |
7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.538