China’s domestic stainless steel prices have continued a mostly downward trend during the past seven days.
Global nickel prices have moved up during the past week. On March 28, the three-month nickel price at the London Metal Exchange (LME) closed at $24,125/mt, while LME nickel inventory on the same date totaled 44,208 mt.
Overall trading activity in the domestic stainless steel market has remained weak, while supply and production volumes are still at high levels, exerting downward pressure on stainless steel prices. Traders have mostly been willing to offer lower prices in order to close more deals. As for the week ahead, as demand may remain weak while costs may move up, it is believed that stainless steel prices may indicate some small increases.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,800 |
2,007 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,280 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
16,000 |
2,327 |
-550 |
-82 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,150 |
2,348 |
-400 |
-60 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,950 |
1,156 |
-100 |
-15 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,134 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.877