China’s domestic stainless steel prices have been mostly stable in the past seven days, with some slight downticks seen also for certain products.
Global nickel prices have increased during the past week. On April 2, the three-month nickel price at the London Metal Exchange (LME) closed at $17,025/mt, while LME nickel inventory on the same date totaled 77,772 mt.
Overall trading activity in the domestic stainless steel market has increased and is considered to be at normal levels. The rebound in nickel prices and the improvement in demand have provided support for stainless steel prices, though some traders chose to cut their quoted prices by small margins at the end of the month in order to close more deals. As for the week ahead, it is believed that stainless steel prices may rebound by small margins as demand and the support from the cost side will continue to improve.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/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 |
14,150 |
1,994 |
0 |
0 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,450 |
1,896 |
-200 |
-28 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,149 |
-50 |
-7 |
|
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