China’s domestic stainless steel prices have moved down by a small margin during the past seven days.
Global nickel prices have declined during the past week. On March 7, the three-month nickel price at the London Metal Exchange (LME) closed at $24,125/mt, while LME nickel inventory on the same date totaled 44,418 mt.
Overall trading activity has been sluggish. Stainless steel futures prices and raw material prices have moved down a little, causing stainless steel traders to follow suit. The downstream demand volume has recovered slowly, which has exerted negative pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,850 |
1,992 |
0 |
-4 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,950 |
1,287 |
-100 |
-17 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,400 |
2,503 |
-150 |
-26 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,450 |
2,510 |
-100 |
-19 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,200 |
1,179 |
-100 |
-17 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,122 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.953 (March 8)