China’s domestic stainless steel prices have mostly followed a downward trend in the past seven days, in particular for the main product types, while some prices have moved sideways.
Global nickel prices have decreased during the past week. On November 18, the three-month nickel price at the London Metal Exchange (LME) closed at $14,645/mt, while LME nickel inventory on the same date totaled 257,832 mt.
Overall trading activity in the domestic stainless steel market has been sluggish in the past week due to the off-season and the colder weather, while the decreases in nickel prices and in stainless steel futures prices have contributed to the declines seen in stainless steel spot prices. As for the week ahead, as the support from the cost side is getting weaker, it is believed that stainless steel prices may again follow a mostly soft trend.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,200 |
1,721 |
0 |
-1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,500 |
1,058 |
0 |
-1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,400 |
1,891 |
-250 |
-36 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
12,700 |
1,792 |
-100 |
-15 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,550 |
1,065 |
-50 |
-8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
960 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.087
