China’s domestic stainless steel prices have mostly risen by a slight margin during the past seven days.
Global nickel prices have increased during the past week. On October 13, the three-month nickel price at the London Metal Exchange (LME) closed at $15,040/mt, while LME nickel inventory on the same date totaled 236,934 mt.
The LME three-month nickel price has followed an upward trend recently, mostly due to the strike in Indonesia. Domestic stainless steel prices have mostly moved upwards after the national holiday period. Overall trading activity has been at normal levels. Supply volumes have recently increased, exerting some pressure on stainless steel prices. As for the week ahead, considering the strong performance of the nickel market but also the weakness of domestic demand, it is believed that stainless steel prices may indicate slight fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,100 |
1,645 |
0 |
15 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,050 |
1,045 |
50 |
17 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,700 |
2,327 |
50 |
29 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
16,300 |
2,416 |
100 |
37 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,230 |
200 |
41 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,097 |
0 |
10 |
13 percent VAT is included in the above prices.
$1 = RMB 6.747
