China’s domestic stainless steel prices have fluctuated during the past seven days.
Global nickel prices have moved up in the past week. On October 19, the three-month nickel price at the London Metal Exchange (LME) closed at $20,070/mt, while LME nickel inventory on the same date totaled 143,856 mt.
Domestic stainless steel prices for the different product types have fluctuated during the past week. 300 series products first declined but then rebounded supported by stainless steel futures prices. 200 series producers have showed increases due to strong rises in producers’ prices. Overall supply volumes as well as demand have remained weak amid electricity supply restrictions. As for the week ahead, it is believed that domestic stainless steel prices may indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
17,000 |
2,653 |
+500 |
+100 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
12,250 |
1,912 |
+500 |
+93 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
22,300 |
3,481 |
-100 |
+14 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,250 |
3,317 |
+50 |
+35 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,850 |
1,693 |
-50 |
+6 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,576 |
0 |
+13 |
13 percent VAT is included in the above prices.
$1 = RMB 6.407