China’s domestic stainless steel prices have mostly increased slightly during the past seven days.
Global nickel prices have moved up during the past week. On August 22, the three-month nickel price at the London Metal Exchange (LME) closed at $20,600/mt, while LME nickel inventory on the same date totaled 37,014 mt.
Overall trading activity in the domestic stainless steel has increased and is considered to be at normal levels. The recent measure of the Indonesian government affecting mining operations has contributed to the rise in nickel prices. The Chinese domestic stainless steel market has not been influenced yet, but stainless steel futures prices have been moving up. As for the week ahead, considering that costs may increase, it is believed that stainless steel prices may also follow an upward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,950 |
1,799 |
0 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,850 |
1,229 |
100 |
14 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,150 |
2,243 |
150 |
21 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,850 |
2,201 |
150 |
21 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,300 |
1,153 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,014 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.200