China’s domestic stainless steel prices have followed a soft trend during the past seven days.
Global nickel prices have continued to move down during the past week. On December 5, the three-month nickel price at the London Metal Exchange (LME) closed at $16,280/mt, while LME nickel inventory on the same date totaled 46,212 mt.
Overall trading activity in the domestic stainless steel market has been weak due to the off-season, while prices have moved down amid weaker prices of nickel and lower stainless steel futures prices. Traders have also been willing to reduce their quoted prices in order to close more deals. As for the week ahead, it is believed that domestic stainless steel prices may continue their downward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,850 |
1,806 |
0 |
-3 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,250 |
1,160 |
-50 |
-9 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,050 |
1,975 |
-350 |
-52 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,850 |
1,947 |
-200 |
-31 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,250 |
1,160 |
-50 |
-9 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,500 |
1,054 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.114