China’s domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have softened during the past week. On February 4, the three-month nickel price at the London Metal Exchange (LME) closed at $15,340/mt, while LME nickel inventory on the same date totaled 172,584 mt.
Overall trading activity in the domestic stainless steel has remained very weak since most traders are still on holiday and the downstream segment has still not recovered. As for the week ahead, with raw material prices recently having softened while demand may soon start to recover, it is believed that stainless steel prices may move down by slight margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,550 |
1,751 |
0 |
0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,350 |
1,025 |
0 |
0 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,850 |
1,932 |
0 |
0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,000 |
1,813 |
0 |
0 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,300 |
1,018 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
7,000 |
976 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.169
