China’s domestic stainless steel prices have mostly softened slightly during the past week.
Global nickel prices have also decreased during the past week, amid some fluctuations. On September 28, the three-month nickel price at the London Metal Exchange (LME) closed at $18,495/mt, while LME nickel inventory on the same date totaled 160,230 mt.
Domestic stainless steel prices first increased and then declined during the past week, with prices most down slightly week on week. Overall trading activity has been weak since the downstream side has been influenced by production restrictions. Prices of nickel and other raw materials have fluctuated at high price levels. Stainless steel inventories have mostly decreased due to restrictions on production. As for the week ahead, considering the recovery of production volumes of both stainless producers and on the downstream side, it is believed that domestic stainless steel prices may weaken slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,250 |
2,513 |
-50 |
-7 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
11,300 |
1,748 |
-50 |
-7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,300 |
3,449 |
-200 |
-29 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,100 |
3,263 |
-500 |
-76 |
430/2B (3.0 x 1,219 x C) |
Taigang |
10,850 |
1,678 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,562 |
100 |
16 |
13 percent VAT is included in the above prices.
$1 = RMB 6.466
