China’s domestic stainless steel market major types prices have showed a reduce trend during past week.
Global nickel price has showed a fluctuating downward trend during past week. On August 27, the three-month nickel price at the London Metal Exchange (LME) closed at $15,655/mt, while LME nickel inventory on the same date totaled 150,426mt.
Overall trading activity in local Chinese stainless steel market has been at a low level over the past week. Producers have mostly decreased their prices, since their production volume has increased recently. Inventory levels have also increased but buyers have mostly maintained their wait-and-see stance. As for the week ahead, stainless steel prices in China are expected to fluctuate with slightly downtrend.
|
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
|
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,000 |
1,553 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,700 |
1,087 |
0 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,750 |
2,223 |
-150 |
-21 |
|
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,550 |
2,195 |
-300 |
-42 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,900 |
1,115 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,115 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.08