China’s domestic stainless steel prices have mostly followed a stable trend during the past seven days.
Global nickel prices have fluctuated slightly during the past week. On March 25, the three-month nickel price at the London Metal Exchange (LME) closed at $16,220/mt, while LME nickel inventory on the same date totaled 200,616 mt.
Overall trading activity in the stainless steel market has been at normal levels in the past week. Certain stainless producers have increased their quoted prices but most traders have chosen to hold their quoted prices stable in order to close more deals. Demand has showed an increasing tendency since the weather is getting warmer, which provides some support for stainless steel prices. As for the week ahead, it is believed that domestic stainless steel prices may rise by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,550 |
1,749 |
0 |
-1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,750 |
1,080 |
100 |
13 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
14,250 |
1,986 |
0 |
-1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,700 |
1,909 |
0 |
-1 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,500 |
1,045 |
0 |
-1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
948 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.175