China’s domestic stainless steel prices have continued a mostly stable trend during the past seven days, with some upticks also seen.
Global nickel prices have fluctuated on an upward trend during the past week. On September 24, the three-month nickel price at the London Metal Exchange (LME) closed at $17,165/mt, while LME nickel inventory on the same date totaled 156,108 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels, while increases in nickel prices and restrictions on stainless output provided support for upticks in some stainless steel prices in the past week. Most traders have chosen to hold their prices stable as there has been no significant improvement in demand. As for the week ahead, it is believed that domestic stainless steel market prices may move sideways or upwards, supported by production restrictions.
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,200 |
1,583 |
0 |
+2 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,800 |
1,103 |
0 |
+2 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2,312 |
+100 |
+18 |
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,150 |
2,283 |
0 |
+4 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,100 |
1,145 |
+50 |
+9 |
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,117 |
0 |
+2 |
13 percent VAT is included in all prices and all prices are ex-warehouse.
$1 = RMB 7.07
