China’s domestic stainless steel prices have moved sideways or increased slightly during the past seven days.
Global nickel prices have increased during the past week. On March 31, the three-month nickel price at the London Metal Exchange (LME) closed at $17,195/mt, while LME nickel inventory on the same date totaled 281, 526 mt.
Overall trading activity has improved a little in the past week since the busy season for sales is drawing closer, while prices have been supported by the increases recorded in nickel prices. As for the week ahead, it is believed that stainless steel prices may indicate small increases.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,450 | 1,804 | 50 | 4 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,050 | 1,166 | 50 | 5 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,300 | 2,216 | 100 | 11 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,600 | 2,115 | 0 | -4 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,101 | 0 | -2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,850 | 992 | 0 | -2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.903
