China’s domestic stainless steel prices have continued their downward trend during the past seven days, though the decrease margins have been smaller.
Global nickel prices have softened slightly during the past week. On March 21, the three-month nickel price at the London Metal Exchange (LME) closed at $22,475/mt, while LME nickel inventory on the same date totaled 44,052 mt.
Overall trading activity in the domestic stainless steel has been sluggish, while traders have reduced their prices amid declines in prices of raw materials and in stainless steel futures prices. As for the week ahead, it is believed that stainless steel prices may indicate another small decrease.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,800 |
2,008 |
-50 |
-8 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,281 |
-50 |
-8 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,550 |
2,408 |
-300 |
-45 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,550 |
2,408 |
-300 |
-45 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,171 |
-50 |
-8 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,135 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.872