China’s domestic stainless steel prices have indicated minor fluctuations during the past week.
Global nickel prices have also just indicated small fluctuations during the past week. On October 17, the three-month nickel price at the London Metal Exchange (LME) closed at $18,625/mt, while LME nickel inventory on the same date totaled 42,870mt.
Overall trading activity in the domestic stainless steel market has improved slightly in the past week but is still considered to be weak. Some traders have chosen to reduce their quotations slightly in order to close more deals. Meanwhile, stainless steel futures prices have lately rebounded slightly, causing some stainless steel spot prices to edge up. As for the week ahead, some producers plan to cut outputs, which may give some support to stainless steel prices, and so it is believed that stainless steel prices may move up by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,850 |
1,790 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,177 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,650 |
2,180 |
100 |
13 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,250 |
2,124 |
-50 |
-8 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,450 |
1,177 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,031 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.180
