China’s domestic stainless steel prices have mostly softened during the past seven days, especially for 304 series stainless steel products.
Global nickel prices have fluctuated on a downward trend during the past week. On November 12, the three-month nickel price at the London Metal Exchange (LME) closed at $15,985/mt, while LME nickel inventory on the same date totaled 150,840 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while prices have mostly moved down due to the decreases seen in nickel prices. With the arrival of the offseason, demand has started to slacken a little, which also exerts pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may continue to move down by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,743 |
0 |
-25 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,700 |
1,070 |
0 |
-15 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,250 |
1,979 |
-250 |
-63 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,500 |
1,875 |
-100 |
-41 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,400 |
1,028 |
0 |
-14 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,000 |
0 |
-14 |
13 percent VAT is included in the above prices.
$1 = RMB 7.199
