China’s domestic stainless steel prices have followed a slight uptrend during the past seven days.
Global nickel prices have increased by slight margins on week-on-week basis, having initially increased and then softened. On December 9, the three-month nickel price at the London Metal Exchange (LME) closed at $14,750/mt, while LME nickel inventory on the same date totaled 252,528 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish over the past week, while prices have edged up slightly, supported by the week-on-week upticks in nickel prices. Meanwhile, supply has remained on the low side, which also gives some support to stainless steel prices. As for the week ahead, it is believed that stainless steel prices may see indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,150 | 1,717 | 0 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,060 | 50 | 7 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,450 | 1,901 | 50 | 7 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 12,750 | 1,802 | 50 | 7 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,500 | 1,060 | 0 | 0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 961 | 0 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.075
