China’s domestic stainless steel prices have followed a stable or slightly upward trend during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On February 11, the three-month nickel price at the London Metal Exchange (LME) closed at $15,520/mt, while LME nickel inventory on the same date totaled 176,946 mt.
Overall trading activity in the domestic stainless steel market has recovered slightly but is still sluggish, while upticks in nickel prices have caused some traders to raise their stainless steel prices slightly. As for the week ahead, as demand may continue its recovery, it is believed that stainless steel prices may fluctuate on a slightly upward trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,750 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,350 |
1,025 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,850 |
1,931 |
0 |
-1 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,100 |
1,827 |
100 |
13 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,400 |
1,032 |
100 |
14 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,000 |
976 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.171