China’s domestic stainless steel prices have mostly followed a stable trend during the past seven days.
Global nickel prices have edged up slightly during the past week. On October 21, the three-month nickel price at the London Metal Exchange (LME) closed at $15,210/mt, while LME nickel inventory on the same date totaled 250,476 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish during the past week. Although upstream nickel prices have followed a slightly upward trend, most stainless steel traders have chosen to hold their quoted prices stable in order to close more deals since demand has remained weak. As for the week ahead, it is believed that stainless steel prices may just indicate small fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,250 |
1,727 |
-50 |
-6 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,500 |
1,057 |
0 |
1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,850 |
1,952 |
0 |
1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,200 |
1,860 |
0 |
1 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,600 |
1,071 |
0 |
1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
958 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.095
