China’s domestic stainless steel prices have been mostly stable in the past seven days, though increases have been seen in some product prices.
Global nickel prices have fluctuated in a downward direction during the past week. On September 17, the three-month nickel price at the London Metal Exchange (LME) closed at $17,045/mt, while LME nickel inventory on the same date totaled 163,308 mt.
Despite the decreases in nickel prices at the LME, domestic stainless steel prices have mostly moved sideways with some increases also seen, supported by low inventories and the slight improvement in demand. Trading activity has been at normal levels. Most traders are unwilling to reduce their prices since production volumes may decline significantly. As for the week ahead, considering the National Day holiday is approaching and the belief of most traders that nickel prices may fluctuate on an upward trend, it is expected that domestic stainless steel prices will continue to indicate sideways movement, with some further increases also likely.
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,200 |
1,583 |
0 |
2 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,800 |
1,103 |
0 |
2 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2,312 |
100 |
18 |
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,150 |
2,283 |
0 |
4 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,100 |
1,145 |
50 |
9 |
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,117 |
0 |
2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.073
