China’s domestic stainless steel prices have fluctuated on an upward trend during the past seven days.
Global nickel prices have followed an upward trend during the past week. On April 14, the three-month nickel price at the London Metal Exchange (LME) closed at $18,210/mt, while LME nickel inventory on the same date totaled 279,570 mt.
Overall trading activity in the domestic stainless steel market has improved slightly due to the sales season and is currently considered to be at normal levels, while prices have moved up supported by the sales season and better weather conditions, and also by increases in prices of nickel and other raw materials. As for the week ahead, considering the support from the cost side and the good performance on the demand side, it is believed that stainless steel prices may increase further by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,450 |
1,815 |
0 |
3 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
8,150 |
1,188 |
100 |
16 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,500 |
2,260 |
200 |
32 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,800 |
2,158 |
200 |
32 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,550 |
1,101 |
-50 |
-6 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,850 |
999 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.858
