China’s domestic stainless steel prices have continued their slight downtrend during the past week.
Global nickel prices have followed a soft trend during the past week. On December 10, the three-month nickel price at the London Metal Exchange (LME) closed at $15,751/mt, while LME nickel inventory on the same date totaled 165,810 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the offseason and the cold weather, while prices have softened slightly again, also influenced by the decreases seen in nickel prices. Most traders have been ready to reduce their quoted prices for stainless steel in order to close more deals as the end of the year approaches. As for the week ahead, considering the offseason and the weaker support from the cost side, it is believed that stainless steel prices may continue their slightly soft trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,747 |
0 |
2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,350 |
1,023 |
-50 |
-6 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,800 |
1,921 |
-100 |
-11 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,050 |
1,817 |
-100 |
-12 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,350 |
1,023 |
0 |
1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,002 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.184