China’s domestic stainless steel prices have followed a downward trend during the past seven days.
Global nickel prices have decreased during the past week. On August 10, the three-month nickel price at the London Metal Exchange (LME) closed at $18,885/mt, while LME nickel inventory on the same date totaled 205,632 mt.
Overall trading activity in the domestic stainless steel market has been slack in the past week, while prices have mostly declined under the influences of decreases in prices of nickel and raw materials. Supply volumes are still at low levels due to production restrictions. As for the week ahead, it is believed that domestic stainless steel prices may follow a fluctuating trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,100 |
2,329 |
-200 |
-37 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,250 |
1,581 |
-200 |
-35 |
304/2B (1.0 x 1,219 x C) |
Taigang |
21,400 |
3,301 |
-500 |
-86 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,700 |
3,193 |
-500 |
-86 |
430/2B (3.0 x 1,219 x C) |
Taigang |
11,500 |
1,774 |
0 |
-5 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,000 |
1,542 |
0 |
-4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.483
