China’s domestic stainless steel prices have followed a slightly soft trend during the past week.
Global nickel prices have moved down by a small margin during the past week. On November 19, the three-month nickel price at the London Metal Exchange (LME) closed at $15,785/mt, while LME nickel inventory on the same date totaled 159, 264 mt.
Overall trading activity in the domestic stainless steel market has been sluggish in the past week due to the offseason as the weather gets colder, while prices have moved down by small margins, also due to the minor decreases seen in nickel prices. As for the week ahead, it is believed that domestic stainless steel prices will continue to see small decreases.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,745 |
0 |
+1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,550 |
1,049 |
-150 |
-20 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,150 |
1,967 |
-100 |
-13 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,300 |
1,849 |
-200 |
-26 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,400 |
1,029 |
0 |
+1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,001 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.194
