China’s domestic stainless steel prices have fluctuated in a small margin during the past week.
Global nickel price has showed a fluctuation with slightly upward trend during the past period. On October 28, the three-month nickel price at the London Metal Exchange (LME) closed at $15,245/mt, while LME nickel inventory on the same date totaled 251,436 mt.
Overall trading activity has been sluggish during the week. Most traders have chosen to slightly change their quoted prices according to their inventory level and demand volume. As for the week ahead, considering the off season and cold weather is coming, it is believed that stainless steel prices may indicate fluctuations with a downward bias.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,200 | 1,722 | -50 | -4 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,059 | 0 | 2 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,900 | 1,962 | 50 | 10 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,100 | 1,849 | -100 | -11 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,073 | 0 | 2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 960 | 0 | 1 |
13 percent VAT is included in the above prices.
