China’s domestic stainless steel prices have been mostly stable in the past seven days, with some minor increases also seen supported by increases in stainless steel futures prices.
Global nickel prices have moved down by a small margin during the past week. On August 30, the three-month nickel price at the London Metal Exchange (LME) closed at $21,385/mt, while LME nickel inventory on the same date totaled 54,576 mt.
Overall trading activity in the domestic stainless steel market has improved slightly and is considered to be at normal levels. Market inventory has indicated small declines since production volumes have also decreased. As for the week ahead, it is believed that stainless steel prices may show minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,061 |
0 |
-16 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,850 |
1,284 |
+50 |
-2 |
304/2B (1.0 x 1,219 x C) |
Taigang |
16,800 |
2,438 |
0 |
-19 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,100 |
2,336 |
0 |
-18 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,300 |
1,059 |
+100 |
+7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,000 |
1,161 |
0 |
-9 |
13 percent VAT is included in the above prices.
$1 = RMB 6.891
