China’s domestic stainless steel market has moved on a fluctuating trend during the past seven days, with prices now mostly slightly lower compared to one week ago.
Global nickel prices have fluctuated in the past week and are now slightly higher compared to one week earlier. On October 31, the three-month nickel price at the London Metal Exchange (LME) closed at $12,295/mt, while LME nickel inventory on the same date totaled 381,906 mt.
In the past week, domestic stainless steel prices first moved down before then starting to rise again, reflecting the trend of nickel prices. Traders were anxious to conclude to sales as the end of month approached, but the trading volume remained weak. As for the coming week it is believed that the domestic steel stainless market may fluctuate on an upward trend.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,400 |
1,576 |
↓500 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,348 |
↓500 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,600 |
2,515 |
↑100 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
17,300 |
2,621 |
↓200 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
10,200 |
1,545 |
↓100 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,700 |
1,318 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.60