China’s domestic stainless steel prices have mostly moved up during the past week.
Global nickel prices have followed an upward trend during the past week. On April 23, the three-month nickel price at the London Metal Exchange (LME) closed at $19,095/mt, while LME nickel inventory on the same date totaled 76,878 mt.
Overall trading activity in the domestic stainless steel market has increased and is considered to be at normal levels, while prices have mainly increased supported by rises in nickel price and stainless steel futures and by the improvement in demand. As for the week ahead, it is believed that stainless steel prices may continue to move up due to support from demand and costs.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,500 |
1,196 |
50 |
7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,750 |
2,076 |
300 |
42 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,000 |
1,970 |
150 |
21 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,147 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,027 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.105