China’s domestic stainless steel prices have either moved sideways or down slightly during the past seven days.
Global nickel prices have softened again during the past week. On October 31, the three-month nickel price at the London Metal Exchange (LME) closed at $18,095/mt, while LME nickel inventory on the same date totaled 44,898 mt.
Overall trading activity in the domestic stainless steel market has remained weak, while prices of the main stainless steel grades have edged down by small margins amid the soft trends of stainless steel futures prices and nickel prices. Demand is still at low levels, also due to colder weather in some parts of the country. As for the week ahead, considering the weakness of both the demand and cost sides, it is believed that stainless steel prices may follow a slightly soft trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,850 |
1,790 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,500 |
1,184 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,400 |
2,145 |
-150 |
-21 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,950 |
2,083 |
-150 |
-21 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,450 |
1,177 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,031 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.178