China's domestic stainless steel prices have continued to follow a stable trend during the past seven days.
Global nickel prices have softened during the past week. On September 1, the three-month nickel price at the London Metal Exchange (LME) closed at $16,675/mt, while LME nickel inventory on the same date totaled 268,536 mt.
Overall trading activity in the domestic stainless steel market has remained slack over the past week, while most traders have again kept their quoted prices stable despite the softening of nickel prices. As for the week ahead, considering the approach of the peak season for sales, it is believed that domestic stainless steel prices may move up slightly.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,828 | 0 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,100 | 1,194 | 0 | 0 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,200 | 2,241 | 0 | 0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,500 | 2,138 | 0 | 0 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,120 | 0 | 0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,950 | 1,025 | 0 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.783
