China’s domestic stainless steel prices have mostly showed a stable trend during the past week, with certain types fluctuate slightly.
Global nickel price has showed a fluctuation with a slightly reduce trend during the past week. On October 27, the three-month nickel price at the London Metal Exchange (LME) closed at $15,915/mt, while LME nickel inventory on the same date totaled 238,152mt.
Overall trading activity has been weak due to the decline in stainless future prices recently. Some traders are willing to offer certain discounts in order to close more deals, but owing to the support from the cost side, the decrease margin is limited. As for the week ahead, considering the high levels of nickel prices while demand is slack, prices in the local Chinese stainless steel markets are expected to fluctuate by a small margin.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,652 |
0 |
-10 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,950 |
1,034 |
-50 |
-14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,900 |
2,366 |
0 |
-15 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,250 |
2,418 |
0 |
-15 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,500 |
1,265 |
100 |
7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,101 |
0 |
-7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.720
