China’s domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On February 10, the three-month nickel price at the London Metal Exchange (LME) closed at $17,550/mt, while LME nickel inventory on the same date totaled 285,750 mt.
Overall trading activity in the domestic stainless market has been sluggish due to the approach of the Chinese New Year holiday period. Most downstream users have already started their holiday, resulting in very low trading activity and traders holding their quoted prices stable. As for the week ahead, it is believed that stainless steel prices will follow a stable trend until the holiday ends.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,779 |
0 |
2 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,950 |
1,145 |
0 |
1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,100 |
2,175 |
0 |
3 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,400 |
2,074 |
0 |
3 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,650 |
1,102 |
0 |
1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,900 |
994 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.944