China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days, with some minor upticks also seen.
Global nickel prices have edged up slightly during the past week. On January 21, the three-month nickel price at the London Metal Exchange (LME) closed at $16,045/mt, while LME nickel inventory on the same date totaled 170,214 mt.
Overall trading activity in the domestic stainless steel market has remained at very low levels due to the proximity of the Chinese New Year holiday, with most downstream buyers having already started their holiday. As for the week ahead, considering trading activity will be close to zero, it is believed that stainless steel prices will follow a stable trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,750 |
0 |
4 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,350 |
1,025 |
0 |
3 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,850 |
1,932 |
100 |
19 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,000 |
1,813 |
0 |
5 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,300 |
1,018 |
0 |
3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,000 |
976 |
0 |
2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.170
