China’s domestic stainless steel prices have declined slightly during the past week.
Global nickel prices have decreased during the past week. On March 19, the three-month nickel price at the London Metal Exchange (LME) closed at $17,380/mt, while LME nickel inventory on the same date totaled 77,652 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish in the past week, while prices have softened slightly amid the weakness of nickel prices and stainless steel futures prices. Also, the weakness of demand has led most traders to hold a negative view of the prospects for the market and they have been willing to offer certain discounts in order to close more deals. As for the week ahead, it is believed that stainless steel prices may just fluctuate by small margins.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/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 |
8,550 |
1,205 |
-100 |
-15 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,450 |
2,036 |
-100 |
-15 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,000 |
1,973 |
-50 |
-8 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,200 |
1,155 |
-50 |
-8 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,029 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.097