China’s domestic stainless steel prices have fluctuated during the past seven days.
Global nickel prices have declined slightly during the past week. On August 31, the three-month nickel price at the London Metal Exchange (LME) closed at $19,600/mt, while LME nickel inventory on the same date totaled 194,446 mt.
In the past week, prices of 200 series stainless products in China have edged up slightly due to the small rises seen in stainless steel futures prices. On the other hand, traders reduced their prices of 300 series products in order to close more deals against the backdrop of weak demand and the approach of the end of the month. Overall trading activity in the domestic stainless steel market has been slack, while raw material prices still provide support for stainless steel prices. As for the week ahead, considering high costs and low demand, it is believed that domestic stainless steel prices may continue their fluctuating trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,200 |
2,350 |
100 |
17 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,050 |
1,554 |
100 |
17 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,200 |
3,123 |
-400 |
-59 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
19,400 |
2,999 |
-400 |
-59 |
430/2B (3.0 x 1,219 x C) |
Taigang |
11,100 |
1,716 |
-100 |
-14 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,562 |
200 |
32 |
13 percent VAT is included in the above prices.
$1 = RMB 6.468
