China’s domestic stainless steel prices have moved up by small margins during the past seven days.
Global nickel prices have softened a little during the past week. On December 22, the three-month nickel price at the London Metal Exchange (LME) closed at $16,550/mt, while LME nickel inventory on the same date totaled 56,058 mt.
Overall trading activity in the local stainless steel market has improved a little and is currently at normal levels, while prices have risen a little amid higher stainless steel futures prices. Although nickel prices have moved down slightly, they still provide some support for stainless steel prices. As for the week ahead, it is believed that stainless steel prices may follow a stable or slightly downward trend, amid the off-season for demand and as supply is still on the high side.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,750 |
1,796 |
0 |
-1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,190 |
200 |
28 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,400 |
2,028 |
100 |
13 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,958 |
150 |
20 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,148 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.100