China’s domestic stainless steel prices have been either stable or slightly higher over the past week, with the increases seen for 300 series stainless steel products.
Global nickel prices have increased strongly during the past week. On April 9, the three-month nickel price at the London Metal Exchange (LME) closed at $18,280/mt, while LME nickel inventory on the same date totaled 75,420 mt.
Overall trading activity in the domestic stainless steel market has increased since the Tomb Sweeping Festival, though it remains on the weak side. While nickel prices have increased strongly, stainless steel future prices have mostly indicated slight fluctuations. As for the week ahead, it is believed that stainless steel prices may increase during the coming week amid support from the cost side and as demand is expected to improve.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,804 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,400 |
1,184 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,250 |
2,008 |
100 |
14 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,600 |
1,917 |
150 |
21 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,149 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,029 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.096