China’s domestic stainless steel market prices have mostly moved sideways over the past week, with slight rises for certain types.
Global nickel price has indicated a fluctuating uptrend during past week. On September 25, the three-month nickel price at the London Metal Exchange (LME) closed at $12,950/mt, while LME nickel inventory on the same date totaled 229,464mt.
Overall trading activity in the local Chinese stainless steel market has remained at normal levels in the given week. Inventory levels in the market have recently declined to low levels due to certain producers having maintenance works and also due to the problems experienced in China’s coastal area influenced by Typhoon Mangkhut. Currently, demand in the local Chinese stainless steel market is reportedly weak. Due to the approaching National Day holiday, traders are more willing keep their prices stable to stimulate their sales and close deals. For the coming week, domestic stainless steel prices in China are expected to remain stable.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,456 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,900 |
1,295 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2,380 |
↑50 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,400 |
2,387 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,208 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1,223 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.87