China’s domestic stainless steel prices have followed an upward trend during the past week.
Global nickel prices have fluctuated on a rising trend during the past week. On September 5, the three-month nickel price at the London Metal Exchange (LME) closed at $21,065/mt, while LME nickel inventory on the same date totaled 37,164 mt.
Overall trading activity in the domestic stainless steel market has remained weak, while the peak season for sales has not begun yet. Prices have risen with the support of higher nickel prices, though the slackness of demand has limited the increase margins. As for the week ahead, considering the support from the cost side, it is believed that stainless steel prices may continue to edge up.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,950 |
1,799 |
0 |
-4 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,850 |
1,230 |
0 |
-3 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,250 |
2,258 |
150 |
16 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,000 |
2,223 |
100 |
9 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,400 |
1,167 |
100 |
11 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,028 |
100 |
12 |
13 percent VAT is included in the above prices.
$1 = RMB 7.197