Chinese stainless steel prices maintain stability

However, trading last week have been weak nickel prices were down.

In particular, 3mm HRC 304 in the week ending on 20/12 cost is 22500-22700 yuan / ton (U.S. $ 3392-3422 per tonne), up 100 yuan per ton compared to 02 last week. CRC 304/2B 2mm longer sold at 24000-24300 begin_of_the_skype_highlighting              24000-24300      end_of_the_skype_highlighting yuan per ton, up 200 yuan per ton compared to 02 transactions a week ago.

The offer price last week hit a high of 24,900 yuan per ton from 24,600 to 24,700 yuan per ton from the previous transaction. However, the traders said the contract was not traded at this price.

CRC and CRC prices 430/2B 201/2B 2mm 1-2mm remained unchanged from last week price respectively 10600-10900 yuan / ton and 12200-12400 begin_of_the_skype_highlighting              12200-12400      end_of_the_skype_highlighting yuan / ton. CRC 202/2B 2mm transactions still in a state of slump, although world market prices is estimated at about 18,200 to 18,400 yuan per ton. All the above prices include 17% VAT and are reported on 24/12.

About Traders said most of the transaction is projected to be relatively weak. Overall, the storage consolidation and not in a hurry tend to want to maintain a low survival.

"Demand for stainless steel products in Europe did not recover. Exports to the U.S. is good but price is not very high, "a trader in southern China said.

Nickel price delivered at term of 03 months LME metal trading floor is listed at 23,750 to 23,800 yuan per ton on 23/12, the same price of 02 months ago. Prices have reached levels close to $ 25,000 per ton early last week.