China’s domestic stainless steel prices have mostly declined in the past seven days.
Global nickel prices have fluctuated in an upward direction during the past week. On November 5, the three-month nickel price at the London Metal Exchange (LME) closed at $16,295/mt, while LME nickel inventory on the same date totaled 69,474 mt.
Trading activity in the domestic stainless steel market has slightly decreased in the past week and is still at low levels. Most traders have sought to focus on sales and have been willing to offer certain discounts but the demand side has mainly maintained a wait-and-see stance. Inventory levels are down slightly. As for the week ahead, it is believed that domestic stainless steel prices may indicate further minor decreases amid slack demand.
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,400 |
1,627 |
0 |
+12 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,500 |
1,070 |
-100 |
-7 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,326 |
-250 |
-19 |
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,100 |
2,297 |
-200 |
-12 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,250 |
1,177 |
-50 |
+1 |
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,127 |
0 |
+8 |
13 percent VAT is included in the above prices.
$1 = RMB 7.008
