China’s domestic stainless steel prices have increased during the past seven days.
Global nickel prices have fluctuated on an upward trend during the past week. On October 11, the three-month nickel price at the London Metal Exchange (LME) closed at $19,195/mt, while LME nickel inventory on the same date totaled 148,878 mt.
Trading activity in the domestic stainless steel market is at normal levels. Market prices for 200 series products have increased by relatively larger margins supported by strong increases in certain producers’ quoted prices. Supply volumes have improved slightly but are still impacted by electricity supply restrictions. As for the week ahead, considering that the demand side may recover gradually, it is believed that stainless steel prices in China may increase slightly.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,500 |
2,554 |
+250 |
+41 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
11,750 |
1,819 |
+450 |
+71 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
22,400 |
3,467 |
+100 |
+18 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,200 |
3,281 |
+100 |
+18 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,900 |
1,687 |
+50 |
+9 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,563 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.461