China’s domestic stainless steel prices have followed a slightly soft trend during the past week.
Global nickel prices have moved up by small margins during the past week. On September 17, the three-month nickel price at the London Metal Exchange (LME) closed at $16,115/mt, while LME nickel inventory on the same date totaled 123,726 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish during the past week and so prices have moved down slightly despite the small rebound seen in nickel prices. As for the week ahead, considering that the demand side may recovery, it is thought that domestic stainless steel prices may increase by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,600 |
1,778 |
-100 |
-6 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,700 |
1,086 |
-100 |
-9 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,250 |
2,011 |
0 |
9 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,700 |
1,933 |
-50 |
1 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,500 |
1,058 |
-50 |
-2 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,016 |
0 |
4 |
13 percent VAT is included in the above prices.
$1 = RMB 7.087
