China’s domestic stainless steel prices have moved up by small margins during the past seven days.
Global nickel prices have increased during the past week. On September 16, the three-month nickel price at the London Metal Exchange (LME) closed at $15,445/mt, while LME nickel inventory on the same date totaled 226,434 mt.
Overall trading activity in the domestic stainless steel market has been sluggish, while prices have edged up slightly supported by increases seen in nickel prices, though the weakness of demand has limited the size of the price increases. As for the week ahead, it is believed that stainless steel prices may just fluctuate by small margins.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,350 | 1,739 | 0 | 1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,550 | 1,063 | 50 | 8 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 14,050 | 1,979 | 100 | 15 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,500 | 1,901 | 200 | 29 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,070 | 50 | 8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,650 | 936 | 0 | 1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.101
