China’s domestic stainless steel prices have mainly moved up during the past seven days.
Global nickel prices have also increased during the past week. On August 26, the three-month nickel price at the London Metal Exchange (LME) closed at $15,280/mt, while LME nickel inventory on the same date totaled 201,408 mt.
Overall trading activity in the local stainless steel market has been sluggish due to the off-season, while prices have mostly moved up supported by upticks in nickel prices. However, due to the weakness of demand, certain traders have been willing to offer discounts in order to close more deals as the end of the month approaches. As for the week ahead, it is believed that stainless steel prices may fluctuate by small margins.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,350 | 1,737 | 50 | 14 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,055 | 100 | 18 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,800 | 1,941 | -50 | 0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,300 | 1,870 | 0 | 7 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,450 | 1,048 | 50 | 11 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,650 | 935 | 0 | 4 |
13 percent VAT is included in the above prices.
$1 = RMB 7.111