In the past week, China’s domestic stainless steel prices first declined and then rebounded, and are now slightly lower week on week.
Global nickel prices have moved down during the past week. On November 28, the three-month nickel price at the London Metal Exchange (LME) closed at $16,730/mt, while LME nickel inventory on the same date totaled 44,874 mt.
Overall trading activity in the domestic stainless steel market has been weak despite a slight improvement lately, while prices have started to rebound on the back of higher stainless steel futures prices. Supply and demand have not changed much due to the off-season. As for the week ahead, it is believed that stainless steel prices may rise slightly on the back of support from upstream costs.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,850 |
1,809 |
0 |
6 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,300 |
1,169 |
0 |
4 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,400 |
2,027 |
-50 |
-1 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,050 |
1,978 |
-150 |
-15 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,169 |
0 |
4 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,500 |
1,056 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 7.103