China’s domestic stainless steel prices have followed a slight uptrend during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On March 4, the three-month nickel price at the London Metal Exchange (LME) closed at $15,970/mt, while LME nickel inventory on the same date totaled 195,360 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while prices have moved up by small margins, supported by rises in nickel prices. However, demand has not indicated any strong change and market inventory remains at high levels, exerting some negative pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/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 | 7,400 | 1,032 | 100 | 14 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,850 | 1,931 | 100 | 14 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,200 | 1,841 | 100 | 14 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,450 | 1,039 | 0 | 0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 948 | -100 | -14 |
13 percent VAT is included in the above prices.
$1 = RMB 7.171
