China’s domestic stainless steel prices have mostly declined slightly during the past week, amid some fluctuations.
Global nickel prices have edged up during the past week. On October 26, the three-month nickel price at the London Metal Exchange (LME) closed at $20,170/mt, while LME nickel inventory on the same date totaled 141,252 mt.
Trading activity and supply volumes in the domestic stainless steel market have both been weak during the past seven days. Prices of certain product types edged up due to low market inventory, though prices of most types have declined by a small margin due to the weakness of demand. As for the week ahead, it is believed that stainless steel prices may fluctuate in a downward direction amid decreases in steel futures prices, though receiving some support from the cost side.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,600 |
2,599 |
-400 |
-54 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
12,750 |
1,997 |
500 |
85 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,200 |
3,476 |
-100 |
-4 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,200 |
3,320 |
-50 |
3 |
430/2B (3.0 x 1,219 x C) |
Taigang |
10,800 |
1,691 |
-50 |
-2 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,582 |
0 |
5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.386
