China’s domestic stainless steel prices have increased during the past seven days.
Global nickel prices have also moved up in the past week. On October 25, the three-month nickel price at the London Metal Exchange (LME) closed at $22,520/mt, while LME nickel inventory on the same date totaled 52,905 mt.
Overall trading activity in the local Chinese stainless steel market has improved slightly and is considered to be at normal levels, while prices have increased on the back of higher nickel prices and stainless steel futures prices, with low market inventory levels also providing support for stainless steel prices. As for the week ahead, it is believed that stainless steel prices may continue to increase but by smaller margins.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,700 |
1,912 |
200 |
14 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,350 |
1,305 |
150 |
11 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,550 |
2,589 |
400 |
37 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,800 |
2,485 |
500 |
51 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,131 |
300 |
34 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,950 |
1,110 |
0 |
-8 |
13 percent VAT is included in the above prices.
$1 = RMB 7.164 (October 26)