China’s domestic stainless steel prices have mostly declined slightly on week-on-week basis.
Global nickel prices have fluctuated in an upward direction during the past week. On August 17, the three-month nickel price at the London Metal Exchange (LME) closed at $19,230/mt, while LME nickel inventory on the same date totaled 200,382 mt.
In the past week, domestic stainless steel prices first declined and then started to recover, but are still mostly slightly lower week on week. Overall trading activity is weak due to the off-season. Market inventory has risen slightly, placing some pressure on stainless steel prices. As for the week ahead, amid the weakness of demand and the low supply volumes caused by production restrictions, it is believed that stainless steel prices will just fluctuate slightly.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,100 |
2,326 |
0 |
-3 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,250 |
1,579 |
0 |
-2 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
21,200 |
3,266 |
-200 |
-35 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,100 |
3,096 |
-600 |
-97 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
11,300 |
1,741 |
-200 |
-33 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,000 |
1,540 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.492