China’s domestic stainless steel prices have followed a mostly stable trend in the past seven days, with some slight downticks also seen.
Global nickel prices have risen by small margins during the past week. On December 21, the three-month nickel price at the London Metal Exchange (LME) closed at $19,575/mt, while LME nickel inventory on the same date totaled 104,520 mt.
Overall trading activity in the domestic stainless steel market has improved in the past week but is still on the slow side. Some stainless steel producers have announced production restrictions for the coming period, providing support for stainless steel prices. but demand is still weak. As for the week ahead, considering the approach of the end of the year and that traders may come under pressure from tight liquidity, it is believed that domestic stainless steel prices may follow a soft trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,600 |
2,292 |
0 |
1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,800 |
1,538 |
-50 |
-7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,000 |
2,826 |
-300 |
-46 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,100 |
2,684 |
-100 |
-15 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,000 |
1,413 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,250 |
1,452 |
-450 |
-70 |
13 percent VAT is included in the above prices.
$1 = RMB 6.370
