China’s domestic stainless steel prices have mostly moved down during the past seven days.
Global nickel prices have moved up during the past week. On November 1, the three-month nickel price at the London Metal Exchange (LME) closed at $23,450/mt, while LME nickel inventory on the same date totaled 52,060 mt.
Overall trading activity in the domestic stainless steel market has slackened and is currently weak. Stainless steel futures prices and producers’ quoted prices have both softened somewhat, causing most traders to follow suit, also because of the weak demand situation.. As for the week ahead, it is believed that stainless steel prices may indicate further slight decreases.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,700 |
1,898 |
0 |
-15 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,350 |
1,295 |
0 |
-10 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,250 |
2,528 |
-300 |
-62 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,600 |
2,438 |
-200 |
-47 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,000 |
1,108 |
-100 |
-23 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,950 |
1,101 |
0 |
-9 |
13 percent VAT is included in the above prices.
$1 = RMB 7.220