China’s domestic stainless steel prices have mostly fluctuated on a downward trend during the past week.
Global nickel prices have declined in the past week. On November 2, the three-month nickel price at the London Metal Exchange (LME) closed at $19,570/mt, while LME nickel inventory on the same date totaled 140,904 mt.
Overall trading activity in the domestic stainless steel market has been weak due to production restrictions and the off-season period, and so market inventories have increased slightly. The price trend has mostly followed the decreases seen in nickel prices. As for the week ahead, it is believed that stainless steel prices may move down again.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
16,600 |
2,591 |
0 |
-9 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
12,450 |
1,943 |
-300 |
-54 |
304/2B (1.0 x 1,219 x C) |
Taigang |
21,900 |
3,418 |
-300 |
-59 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,700 |
3,230 |
-500 |
-89 |
430/2B (3.0 x 1,219 x C) |
Taigang |
10,750 |
1,678 |
-50 |
-14 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,100 |
1,576 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 6.408
