China's domestic stainless steel market has indicated slight downticks in some prices in the past week, while other prices have moved sideways, with upticks seen for 201 series prices.
Global nickel prices have risen slightly compared to one week earlier. On August 16, the three-month nickel price at the London Metal Exchange (LME) closed at $10,275/mt, while LME nickel inventory on the same date totaled 373,548 mt.
Low trading activity and increases in supply and inventory have been the main factors contributing to the downticks seen in some product prices in the Chinese domestic stainless steel market in the past week. Though still at low levels, trading activity has shown signs of improving and is expected to increase further in the week ahead and to provide support for the stable movement of domestic stainless steel prices.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,200 | 1,532 | ↓100 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 7,200 | 1,081 | ↑300 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 13,400 | 2,012 | 0 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 13,150 | 1,974 | ↓100 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 7,150 | 1,074 | 0 |
430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 6,300 | 946 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.66