China’s domestic stainless steel prices have risen slightly in the past seven days.
Global nickel prices have softened by a small margin during the past week. On September 29, the three-month nickel price at the London Metal Exchange (LME) closed at $14,455/mt, while LME nickel inventory on the same date totaled 236,400 mt.
Domestic stainless steel prices have indicated minor increases due to improved trading activity before the national holiday. Meanwhile, stainless steel futures prices in China have also followed an upward trend. As for the coming period, it is believed that stainless steel prices may maintain a stable trend during the holiday period but that prices may soften after the holiday amid an anticipated weakening of demand.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,630 |
0 |
-3 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,000 |
1,028 |
100 |
13 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,650 |
2,298 |
0 |
-4 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,200 |
2,379 |
200 |
26 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,189 |
100 |
13 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,087 |
100 |
13 |
13 percent VAT is included in the above prices.
$1 = RMB 6.810
