China’s domestic stainless steel prices have followed a fluctuating trend during the past week.
Global nickel prices have showed fluctuations with upticks during the past week. On August 27, the three-month nickel price at the London Metal Exchange (LME) closed at $17,165/mt, while LME nickel inventory on the same date totaled 116,616 mt.
LME three-month nickel price has shown fluctuations with upward movement during the past week. Domestic stainless steel prices also fluctuated in the same period. Overall trading activity has been weak. Upstream nickel prices and stainless future prices recently have rebounded, leading some stainless steel prices to go up slightly. But due to weak demand, most traders choose to hold their quoted prices stable or offer certain discounts in order to close more deals. As for the week ahead, it is believed that stainless steel prices may continue to see small fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,797 |
0 |
2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,100 |
1,137 |
0 |
1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,450 |
2,029 |
0 |
3 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,952 |
100 |
16 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,650 |
1,074 |
-150 |
-20 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,011 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.122
