China’s domestic stainless steel prices have followed a strong upward trend during the past seven days, especially for 304 series products.
Global nickel prices have increased sharply during the past week. On April 28, the three-month nickel price at the London Metal Exchange (LME) closed at $19,430/mt, while LME nickel inventory on the same date totaled 277,518 mt.
Overall trading activity in the Chinese has been weak in the past seven days, while prices of 304 series products have risen strongly amid sharp rises in nickel prices. Prices of other stainless steel products have fluctuated slightly or remained stable. As for the week ahead, since the support from the cost side is very strong, it is believed that stainless steel prices will fluctuate at high levels.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,350 | 1,800 | 0 | 1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,200 | 1,195 | 50 | 8 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 16,100 | 2,347 | 500 | 74 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 15,500 | 2,259 | 650 | 96 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,500 | 1,093 | -50 | -7 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,850 | 998 | 0 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.861
