China’s domestic stainless steel prices have continued to move down during the past week.
Global nickel prices have declined during the past week. On September 3, the three-month nickel price at the London Metal Exchange (LME) closed at $15,735/mt, while LME nickel inventory on the same date totaled 122,214 mt.
Overall trading activity in the domestic stainless steel market has remained weak, while prices have continued to decrease, also influenced by softer nickel prices and the declines in stainless steel futures prices. The lack of a recovery on the demand side has negatively impacted traders’ confidence. As for the week ahead, considering the mid-Autumn holiday may increase demand volumes, it is believed that stainless steel prices may rebound slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,700 |
1,784 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,800 |
1,096 |
-200 |
-29 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,250 |
2,002 |
-200 |
-29 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,750 |
1,932 |
-50 |
-8 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,550 |
1,061 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,012 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.118
