China’s domestic stainless steel prices have followed a stable trend during the past week.
Global nickel prices have softened during the past week. On February 6, the three-month nickel price at the London Metal Exchange (LME) closed at $15,900/mt, while LME nickel inventory on the same date totaled 71,802 mt.
Overall trading activity in the domestic stainless steel market has been very sluggish in the past week as most market players are already on holiday, while prices have been stable for the same reason. As for the week ahead, it is believed that stainless steel prices will remain stable during the holiday period, while the recent softening of nickel prices may lead suppliers to reduce their prices after the holiday.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,239 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,700 |
2,069 |
0 |
0 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,985 |
0 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,250 |
1,161 |
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