In the past seven days, China’s domestic stainless steel prices first decreased and then rebounded.
Global nickel prices also declined first and then rebounded during the past week, indicating an increase on week-on-week basis. On September 15, the three-month nickel price at the London Metal Exchange (LME) closed at $15,240/mt, while LME nickel inventory on the same date totaled 237,180 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels. Most stainless steel traders chose to follow the upward trend of nickel prices in the latter part of the past week. Some traders have been increasing their stock levels, and so trading activity has improved slightly. As for the week ahead, considering that nickel prices still provide strong support, it is believed that stainless steel prices may follow a slightly upward trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,636 |
0 |
14 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,000 |
1,032 |
0 |
9 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,700 |
2,315 |
-100 |
5 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,800 |
2,329 |
100 |
35 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,950 |
1,172 |
100 |
25 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,076 |
0 |
9 |
13 percent VAT is included in the above prices.
$1 = RMB 6.783
