China’s domestic stainless steel prices have continued their upward trend during the past seven days.
Global nickel prices have softened during the past week. On March 18, the three-month nickel price at the London Metal Exchange (LME) closed at $16,275/mt, while LME nickel inventory on the same date totaled 200,796 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while prices have continued to rise supported by increases in stainless steel futures prices, despite the declines seen in nickel prices. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,750 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,650 |
1,067 |
150 |
21 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,250 |
1,987 |
150 |
21 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,700 |
1,911 |
300 |
42 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,500 |
1,046 |
50 |
7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
6,800 |
948 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.170
