China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days.
Global nickel prices have edged down during past week. On December 2, the three-month nickel price at the London Metal Exchange (LME) closed at $14,740/mt, while LME nickel inventory on the same date totaled 253,074 mt.
Overall trading activity in the domestic stainless steel market has been quiet during the past week due to the off-season and the cold weather, while prices have mostly moved sideways despite pressure from the downticks seen in nickel prices. As for the week ahead, considering the weakness of the demand side as well as the declines observed in nickel prices, it is believed that stainless steel prices will move down by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,150 |
1,717 |
0 |
1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,450 |
1,053 |
0 |
1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,400 |
1,894 |
0 |
1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
12,700 |
1,795 |
0 |
1 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,500 |
1,060 |
-50 |
-6 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
961 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.075