China’s domestic stainless steel prices have followed a mostly stable trend in the past seven days, with some slight downticks also seen.
Global nickel prices have rebounded slightly during the past week. On September 18, the three-month nickel price at the London Metal Exchange (LME) closed at $12,400/mt, while LME nickel inventory on the same date totaled 232,068 mt.
While most domestic stainless steel prices have remained stable in the past week, some product prices have softened slightly due to increases in inventories. Overall trading activity has improved somewhat but still remains at low levels. Since some of the larger stainless steel producers are carrying out or have just completed maintenance works, supply volumes from producers have recently been on the low side. Since LME nickel prices have recently increased slightly, support for domestic stainless steel prices is still strong, also given that there are some signs of improvement in demand. Accordingly, it is believed that the domestic stainless prices may indicate some small increases in the coming week.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,458 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,297 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,376 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,391 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,210 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,224 |
↓100 |
16 percent VAT is included in the above prices.
$1 = RMB 6.86