China’s domestic stainless steel prices have continued their downward trend during the past seven days.
Global nickel price has showed an upward trend during the past week. On November 23, the three-month nickel price at the London Metal Exchange (LME) closed at $20,410/mt, while LME nickel inventory on the same date totaled 118,164 mt.
Domestic stainless steel prices have continued their downward trend during the past week. Overall trading activity has remained weak. Supply has increased, which exerts pressure on stainless steel market prices. As for the week ahead, it is believed that stainless steel prices may soften slightly, amid the ongoing weakness of demand and stronger support from the cost side.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,900 |
2,332 |
-600 |
-92 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,550 |
1,651 |
-600 |
-93 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,200 |
3,161 |
-900 |
-139 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,650 |
2,919 |
-800 |
-123 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,700 |
1,518 |
-250 |
-38 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,800 |
1,534 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.390
