China’s domestic stainless steel prices have declined for 304 series products during the past seven days, while moving sideways for other products.
Global nickel prices have softened slightly during the past week. On November 11, the three-month nickel price at the London Metal Exchange (LME) closed at $15,025/mt, while LME nickel inventory on the same date totaled 253,308 mt.
Overall trading activity in the domestic stainless steel market has decreased in the past week and is sluggish due to the off-season, while the prices of 304 series products have declined due to the influence of the decreases seen in stainless steel futures prices. As for the week ahead, it is believed that stainless steel prices may indicate small decreases.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,200 |
1,722 |
0 |
+2 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,500 |
1,059 |
0 |
+1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,650 |
1,927 |
-200 |
-26 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
12,800 |
1,807 |
-300 |
-41 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,600 |
1,073 |
0 |
+1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
960 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.083