China’s domestic stainless steel prices have followed an upward trend during the past seven days.
Global nickel prices have increased on week-on-week basis. On January 20, the three-month nickel price at the London Metal Exchange (LME) closed at $17,760/mt, while LME nickel inventory on the same date totaled 284,736 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels during the past week, while prices have increased on the back of recent increases in nickel prices, though prices of nickel have started to soften in the past few days. The strong increases in stainless steel futures prices are also supporting the trend of stainless steel spot prices. As for the week ahead, it is believed that stainless steel prices may indicate minor fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,300 |
1,757 |
100 |
17 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,900 |
1,128 |
50 |
9 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
14,900 |
2,128 |
250 |
39 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,400 |
2,057 |
600 |
89 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,650 |
1,093 |
50 |
9 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,900 |
986 |
100 |
16 |
13 percent VAT is included in the above prices.
$1 = RMB 7.001
