China’s domestic stainless steel prices have showed a mostly upward trend during the past week.
Global nickel price has showed a downward trend with fluctuations during the past week. On September 21, the three-month nickel price at the London Metal Exchange (LME) closed at $18,855/mt, while LME nickel inventory on the same date totaled 166,788 mt.
Overall trading activity has been weak. The policy of limitation of production volume especially for 200 and 300 types in most districts has mainly caused stainless steel prices to increase sharply. Both producers’ and futures prices in the stainless steel market went up. Inventories decreased since supply volume has also reduced. As for the week ahead, considering the policy of limitation of production volume will continue to influence stainless steel market, it is believed that stainless steel prices may fluctuate with upticks although demand has been low.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,300 |
2,520 |
650 |
93 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
11,350 |
1,755 |
850 |
126 |
304/2B (1.0 x 1,219 x C) |
Taigang |
22,500 |
3,478 |
1,900 |
284 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,600 |
3,339 |
1,300 |
191 |
430/2B (3.0 x 1,219 x C) |
Taigang |
10,900 |
1,685 |
0 |
-5 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,000 |
1,546 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.469
