China’s domestic stainless steel prices have mostly softened slightly in the past seven days, though slight upticks have been seen for some products.
Global nickel prices have fluctuated in an upward direction over the past week. On October 29, the three-month nickel price at the London Metal Exchange (LME) closed at $16,820/mt, while LME nickel inventory on the same date totaled 69,162 mt.
Overall trading activity in the domestic stainless steel has improved in the past week with the approach of the end of the month and is considered to be at normal levels, with most traders willing to offer discounts in order to close more deals. However, support for stainless steel prices is strong due to the rebound of nickel prices, increased transportation costs and low production volumes. As for the week ahead, it is believed that domestic stainless steel prices may indicate a small rebound.
|
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
|
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,400 |
1,615 |
0 |
4 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,600 |
1,077 |
-50 |
-4 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,550 |
2,345 |
-50 |
-1 |
|
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,300 |
2,309 |
-50 |
-2 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,176 |
0 |
3 |
|
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,119 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 7.058