China’s domestic stainless steel prices have showed stable or slightly upward movement during the past seven days.
Global nickel prices have increased by small margins during the past week. On January 23, the three-month nickel price at the London Metal Exchange (LME) closed at $16,260/mt, while LME nickel inventory on the same date totaled 69,438 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the off-season and cold weather conditions, with some prices increasing by small margins due to the slight upward movement seen in nickel prices and stainless steel futures prices. Some buyers are already exiting the market ahead of the long holiday, and so trading activity has continued to decrease. As for the week ahead, it is believed that stainless steel prices may move sideways or down slightly.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
50 |
10 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,750 |
1,232 |
150 |
23 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,055 |
0 |
3 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,985 |
50 |
10 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,250 |
1,161 |
0 |
2 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,027 |
0 |
2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.105