China’s domestic stainless steel prices have followed a mostly stable trend in the past seven days, though with some slight decreases also seen.
Global nickel prices have fluctuated in a downward direction during the past week. On February 18, the three-month nickel price at the London Metal Exchange (LME) closed at $12,855/mt, while LME nickel inventory on the same date totaled 218,214 mt.
Overall trading activity in the Chinese domestic stainless steel market has slightly increased in the past week since some upstream and downstream operators have resumed work at the start of the current week. However, activity is still at low levels. Stainless steel futures prices have recently showed a decreasing tendency, which has led some traders to follow the same trend. Nevertheless, since most downstream buyers have not yet returned to work, the majority of traders have chosen to keep their prices stable. As for the week ahead, it is believed that stainless steel prices may follow a slight downtrend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,300 |
1,614 |
0 |
-7 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,050 |
1,007 |
-50 |
-11 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,200 |
2,171 |
-50 |
-16 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,650 |
2,093 |
0 |
-9 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,150 |
0 |
-5 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,900 |
1,128 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 7.001
