China’s domestic stainless steel prices have most followed a stable trend in the past seven days, with some slight downticks seen also.
Global nickel prices have edged up slightly during the past week. On March 5, the three-month nickel price at the London Metal Exchange (LME) closed at $17,645/mt, while LME nickel inventory on the same date totaled 73,944 mt.
Overall trading activity in the Chinese stainless steel market has increased slightly but is still at a low level, and so most traders have chosen to keep their prices stable. Production volumes have increased, as well as market inventory levels, and this exerts pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may indicate small fluctuations amid support from the cost side but weak demand.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
2 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,750 |
1,232 |
-50 |
-6 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,650 |
2,063 |
-200 |
-26 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,985 |
0 |
2 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,169 |
0 |
1 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.102