Chinese domestic stainless steel prices have mostly maintained a stable trend in the past seven days, though with the odd downtick also seen.
Global nickel prices have continued their soft trend during the past week. On October 30, the three-month nickel price at the London Metal Exchange (LME) closed at $11,770/mt, while LME nickel inventory on the same date totaled 218,970 mt.
Overall trading activity in the Chinese domestic stainless steel market has been at low levels in the past week, though, with support from low production volumes and high costs, most stainless steel product prices have continued their stable trend. However, traders are willing to offer some discounts in order to close more deals. As for the week ahead, due to weakness of nickel prices and the low trading volume for stainless products, it is believed that domestic stainless steel prices may follow a slightly soft trend.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,435 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,277 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,250 |
2,331 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,200 |
2,324 |
↓50 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,191 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,205 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.97