China’s domestic stainless steel prices have moved down slightly week on week, having first moved up during the past week and then later declined.
Global nickel prices have increased during the past week. On September 19, the three-month nickel price at the London Metal Exchange (LME) closed at $24,670/mt, while LME nickel inventory on the same date totaled 51,702 mt.
Overall trading activity in the domestic stainless steel market has been weak since transportation in some parts of the country has been impacted by the recent typhoon. As for the week ahead, as downstream buyers may increase their stocks ahead of the approaching National Day holiday, it is believed that stainless steel prices may rebound by a small margin.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,000 |
2,013 |
-200 |
-41 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,150 |
1,316 |
0 |
-8 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,000 |
2,588 |
-150 |
-37 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,300 |
2,488 |
-200 |
-44 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,150 |
1,172 |
-50 |
-14 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,122 |
0 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.954 (September 21)