China’s domestic stainless steel prices have mainly decreased or moved sideways in the past week, with the decreases seen for 300 series products.
Global nickel prices have softened during the past week. On October 14, the three-month nickel price at the London Metal Exchange (LME) closed at $15,104/mt, while LME nickel inventory on the same date totaled 243,258 mt.
Overall trading activity in the domestic stainless steel has been sluggish during the past week, while prices of 300 series products have declined, influenced by the decreases seen in nickel prices. Sentiment in the market is on the negative side due to the weakness of demand. As for the week ahead, it is believed that stainless steel prices may just indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,300 | 1,732 | 0 | 2 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,056 | 0 | 1 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,850 | 1,951 | -200 | -26 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,200 | 1,859 | -200 | -26 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,070 | 0 | 1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,800 | 958 | 150 | 22 |
13 percent VAT is included in the above prices.
$1 = RMB 7.100
