China’s domestic stainless steel prices have moved sideways or upward during the past week.
Global nickel prices increased during the past week. On December 28, the three-month nickel price at the London Metal Exchange (LME) closed at $20,090/mt, while LME nickel inventory on the same date totaled 103,848 mt.
Overall trading activity in the Chinese domestic stainless steel market has increased in the past week and is currently considered to be at normal levels. Increases in nickel prices and stainless steel futures prices have moved up, causing most stainless steel traders to follow an upward trend also. As for the week ahead, considering the end of the year and support from the cost side, it is believed that domestic stainless steel prices may move up slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,600 |
2,291 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,950 |
1,561 |
150 |
23 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,500 |
2,902 |
500 |
77 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,600 |
2,761 |
500 |
77 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,000 |
1,412 |
0 |
-1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,250 |
1,451 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.374
