China’s domestic stainless steel prices have mostly followed a declining trend, especially for the major products, during the past week.
Global nickel prices have declined during the past week. On March 26, the three-month nickel price at the London Metal Exchange (LME) closed at $16,655/mt, while LME nickel inventory on the same date totaled 77,076 mt.
Overall trading activity in the domestic stainless steel market has remained week, while prices have mostly softened given the decreases seen in prices of. nickel and stainless steel futures Stainless steel production volumes have increased slightly, which also exerts pressure on prices. As for the week ahead, as support from the cost side is weak and demand has not seen a recovery yet, it is believed that stainless steel prices may follow a downward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,804 |
0 |
1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,400 |
1,184 |
-150 |
-21 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,150 |
1,994 |
-300 |
-42 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,650 |
1,924 |
-350 |
-49 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,200 |
1,156 |
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 7.095