China’s domestic stainless steel prices have moved down during the past week.
Global nickel prices have decreased during the past week. On September 3, the three-month nickel price at the London Metal Exchange (LME) closed at $16,480/mt, while LME nickel inventory on the same date totaled 119,292 mt.
Overall trading activity in the domestic stainless steel market has increased slightly but still remains weak, while prices have softened amid decreases in prices of nickel and stainless futures. Especially towards the end of August, most traders were willing to reduce their quoted prices in order to close more deals. As for the week ahead, considering that the sales season is approaching and that the demand side may improve, it is believed that stainless steel prices may edge up by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,700 |
1,785 |
-100 |
-12 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,000 |
1,124 |
-100 |
-13 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,450 |
2,031 |
0 |
+2 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,800 |
1,940 |
-100 |
-12 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,600 |
1,068 |
-50 |
-6 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,012 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.115
