China’s domestic stainless steel prices have mostly decreased slightly during the past seven days.
Global nickel prices have softened during the past week. On October 22, the three-month nickel price at the London Metal Exchange (LME) closed at $16,560/mt, while LME nickel inventory on the same date totaled 87,132mt.
The significant decreases in nickel prices in the past week have contributed to the slight downticks observed in many domestic stainless steel prices, while a further factor has been the low trading activity in the stainless steel market. Stainless production volumes are at normal levels and market inventory has declined slightly. As for the week ahead, considering the weakness of nickel prices, it is believed that domestic stainless steel prices may indicate a further slight softening.
|
Specification (mm) |
Region |
Producer |
Price |
Price |
Change w-o-w |
|
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
|||
|
202/No.1 (3.0 x 1,500 x C) |
Foshan |
Guangzhou Lianzhong |
11,400 |
1,611 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,650 |
1,081 |
-150 |
-21 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,600 |
2,346 |
-150 |
-21 |
|
304/No.1 (3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2,311 |
-50 |
-7 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,300 |
1,173 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Wuxi |
Taigang |
7,900 |
1,117 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.075