China’s domestic stainless steel prices have followed a mostly stable trend in the past seven days, with slight upticks also observed.
Global nickel prices have softened during the past week. On December 16, the three-month nickel price at the London Metal Exchange (LME) closed at $14,255/mt, while LME nickel inventory on the same date totaled 253,308 mt.
Overall trading activity in the domestic stainless steel market has improved a little during the past week but is still considered to be weak, while prices have mainly remained stable despite the recent softness of nickel prices. However, low market inventory and weak supply have provided support for stainless steel prices, contributing to the slight upticks seen in some prices. As for the week ahead, it is believed that stainless steel prices may indicate minor fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,150 | 1,722 | 0 | 4 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,063 | 0 | 3 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,500 | 1,913 | 50 | 12 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 12,800 | 1,814 | 50 | 12 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,500 | 1,063 | 0 | 3 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 964 | 0 | 2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.057