China’s domestic stainless steel prices have declined during the past seven days.
Global nickel prices have decreased during the past week. On September 27, the three-month nickel price at the London Metal Exchange (LME) closed at $21,750/mt, while LME nickel inventory on the same date totaled 51,846 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish, with no improvement seen even ahead of the National Day holiday. Market inventory has kept increasing and so traders have mostly been willing to reduce their quoted prices in order to close more deals. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,500 |
1,898 |
-500 |
-115 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,150 |
1,287 |
0 |
-29 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,800 |
2,503 |
-200 |
-85 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,100 |
2,405 |
-200 |
-83 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,950 |
1,118 |
-200 |
-54 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,097 |
0 |
-25 |
13 percent VAT is included in the above prices.
$1 = RMB 7.111 (September 28)