China’s domestic stainless steel prices have moved sideways or up slightly during the past seven days.
Global nickel prices have fluctuated by small margins during the past week. On April 1, the three-month nickel price at the London Metal Exchange (LME) closed at $16,170/mt, while LME nickel inventory on the same date totaled 199,020 mt.
Overall trading activity in the domestic stainless steel market has improved a little and is considered to be at normal levels, giving some traders the confidence to slightly raise their quoted prices. The production volumes of stainless steel and market inventories have remained at normal levels. As for the week ahead, it is believed that stainless steel prices may just fluctuate by small margins.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,550 | 1,748 | 0 | -1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,800 | 1,087 | 50 | 6 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 14,250 | 1,985 | 0 | -1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,800 | 1,922 | 100 | 13 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,550 | 1,052 | 50 | 6 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 947 | 0 | -1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.179
