China’s domestic stainless steel prices have mostly increased during the past seven days.
Global nickel prices moved up during the past week. On September 6, the three-month nickel price at the London Metal Exchange (LME) closed at $21,580/mt, while LME nickel inventory on the same date totaled 54,342mt.
Overall trading activity in the domestic stainless market has improved slightly in the past week but is still weak. Prices have mostly increased supported by higher stainless steel prices and lower supply volumes and market inventories. As for the week ahead, considering demand may increase slightly and support from the cost side still exists, it is believed that stainless steel prices may rise by a small margin.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,053 |
0 |
-7 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,900 |
1,287 |
50 |
3 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,300 |
2,501 |
500 |
63 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,700 |
2,415 |
600 |
78 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,171 |
800 |
112 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,128 |
-200 |
-33 |
13 percent VAT is included in the above prices.
$1 = RMB 6.916