China’s domestic stainless steel prices have moved sideways or up slightly during the past seven days.
Global nickel prices have risen by a small margin during the past week. On January 2, the three-month nickel price at the London Metal Exchange (LME) closed at $16,580/mt, while LME nickel inventory on the same date totaled 64,158 mt.
Overall trading activity in the domestic stainless steel market has been sluggish, while support from costs and nickel prices is still strong, causing some traders to raise their stainless steel prices slightly. However, due to the off-season and the weakness of demand, most traders have kept their prices stable or even offered certain discounts in order to close more deals during the end-of-year period. As for the week ahead, with the demand and cost situation expected to remain unchanged, it is believed that stainless steel prices may continue to indicate small fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,750 |
1,795 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,190 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,042 |
100 |
14 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,957 |
0 |
-1 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,200 |
1,155 |
50 |
7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.102 (January 3)