China’s domestic stainless steel prices have showed an upward trend during the past seven days.
Global nickel prices have trended in an upward direction during the past week. On September 13, the three-month nickel price at the London Metal Exchange (LME) closed at $24,100/mt, while LME nickel inventory on the same date totaled 53,400 mt.
Domestic stainless steel prices have continued their rising trend during the past week, supported by higher nickel prices. Overall trading activity has increased and is considered to be at normal levels. Demand increased ahead of the Mid-autumn Festival holiday against the backdrop of rising stainless steel futures and raw material prices. Stainless steel producers have mostly increased their quoted prices. As for the week ahead, considering the rises already seen in stainless steel prices and the possibility of demand weakening again, it is believed that stainless steel prices may just indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,054 |
0 |
1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,150 |
1,324 |
250 |
37 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,150 |
2,626 |
850 |
124 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,500 |
2,532 |
800 |
117 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,200 |
1,186 |
100 |
15 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,800 |
1,128 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.912