China’s domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have softened slightly during the past week. On April 7, the three-month nickel price at the London Metal Exchange (LME) closed at $17,025/mt, while LME nickel inventory on the same date totaled 281,496 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels. While nickel prices have softened a little, the stainless steel futures market has indicated an upward trend lately, and so most stainless steel traders in the spot market have chosen to keep their quoted prices stable and are maintaining a wait-and-see stance for now. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,450 | 1,813 | 0 | 9 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,050 | 1,172 | 0 | 6 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,300 | 2,228 | 0 | 11 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,600 | 2,126 | 0 | 11 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,107 | 0 | 6 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,850 | 997 | 0 | 5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.868
