China’s domestic stainless steel prices have continued their downward trend during the past seven days.
China’s domestic stainless steel prices have continued their downward trend during the past seven days.
Global nickel prices have declined during the past week. On December 14, the three-month nickel price at the London Metal Exchange (LME) closed at $19,565/mt, while LME nickel inventory on the same date totaled 107,754 mt.
Overall trading activity in the domestic stainless steel market has remained weak in the past week, while the soft trends of nickel prices and stainless steel future prices have contributed to the decreases in the stainless steel prices of both producers and traders, while the latter have been seeking to close more deals and reduce their stock levels. As for the week ahead, it is believed that stainless steel prices may continue to move down.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,600 |
2,291 |
-200 |
-33 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,850 |
1,546 |
-100 |
-17 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,300 |
2,872 |
-200 |
-33 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,200 |
2,699 |
-250 |
-41 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,000 |
1,412 |
-200 |
-32 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,700 |
1,522 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.372
