China’s domestic stainless steel prices have either moved sideways or softened slightly in the past seven days.
Global nickel prices have increased during the past week. On April 5, the three-month nickel price at the London Metal Exchange (LME) closed at $33,610/mt, while LME nickel inventory on the same date totaled 72,924 mt.
Overall trading activity for stainless steel in the local Chinese market has been weak with both demand and supply impacted by stricter coronavirus measures in eastern China. Nickel prices and stainless steel futures prices still strongly support stainless steel prices. As for the week ahead, while support from the cost side is still strong and public health measures may keep influencing the stainless steel market, it is believed that stainless steel prices in China may fluctuate slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,250 |
2,547 |
0 |
-9 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,900 |
1,708 |
-50 |
-14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,100 |
3,464 |
0 |
-13 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,350 |
3,346 |
0 |
-12 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,850 |
1,544 |
-50 |
-13 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,200 |
1,442 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.380
