China’s domestic stainless steel prices have followed a decreasing trend during the past seven days.
Global nickel prices have moved down during the past week. On October 22, the three-month nickel price at the London Metal Exchange (LME) closed at $16,495/mt, while LME nickel inventory on the same date totaled 135,150 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels, while prices have softened amid decreases in nickel prices and in stainless steel futures prices. Some buyers have been maintaining a wait-and-see stance given the weakness of raw material prices. As for the week ahead, it is believed that domestic stainless steel prices may decline further amid the lack of support from the cost side.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,761 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,900 |
1,109 |
-100 |
-15 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,400 |
2,021 |
-250 |
-37 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,650 |
1,916 |
-250 |
-37 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,500 |
1,053 |
-150 |
-22 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,011 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.125