China’s domestic stainless steel prices have showed a fluctuation with slightly upward trend during the past week.
Global nickel prices have indicated an upward trend during the past week. On December 6, the three-month nickel price at the London Metal Exchange (LME) closed at $29,085/mt, while LME nickel inventory on the same date totaled 54,240 mt.
Overall trading activity in the domestic stainless steel market has been weak due to the off-season, while prices have moved up slightly supported by higher raw material prices and increases in stainless steel futures prices. Market inventory has increased a little but has not exerted much pressure on stainless steel prices. As for the week ahead, considering the support from the cost side but also the weakness of demand, it is believed that stainless steel prices may indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,600 |
1,943 |
0 |
48 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,950 |
1,279 |
150 |
53 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,900 |
2,558 |
200 |
92 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,350 |
2,479 |
100 |
76 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,700 |
1,100 |
-100 |
14 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,115 |
0 |
28 |
13 percent VAT is included in the above prices.
$1 = RMB 6.998