China’s domestic stainless steel prices have mostly fluctuated on an upward trend during the past seven days.
Global nickel prices indicate a small increase week on week, having first risen and then declined during the past week. On September 14, the three-month nickel price at the London Metal Exchange (LME) closed at $19,585/mt, while LME nickel inventory on the same date totaled 175,608 mt.
Domestic stainless steel prices are slightly higher compared to one week ago. Overall trading activity is at normal levels. Certain producers has announced their production restriction plans, which has strongly supported stainless steel prices. However, with the decreases seen in nickel futures prices in recent days, many traders have started to follow a downward trend in their stainless steel prices. As for the week ahead, it is believed that stainless steel prices in China will rise slightly supported by the ongoing production restrictions.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,650 |
2,427 |
50 |
14 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,500 |
1,628 |
50 |
12 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,600 |
3,194 |
0 |
9 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,300 |
3,148 |
500 |
86 |
430/2B (3.0 x 1,219 x C) |
Taigang |
10,900 |
1,690 |
-200 |
-26 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,000 |
1,551 |
-100 |
-11 |
13 percent VAT is included in the above prices.
$1 = RMB 6.449
