Local Chinese stainless steel prices mostly soften slightly  

Thursday, 22 August 2019 10:54:01 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have softened slightly during the past seven days.

Global nickel prices have risen by a small margin during the past week. On August 20, the three-month nickel price at the London Metal Exchange (LME) closed at $15,805/mt, while LME nickel inventory on the same date totaled 149,640 mt.

Overall trading activity in the domestic stainless steel market has been at weak, especially due to previous price increases, while traders also have mostly chosen to reduce their prices due to previous declines in nickel prices and in order to close more deals. Market inventories recently have increased due to the easing of production restrictions. As for the week ahead, it is believed that domestic stainless steel prices may fluctuate on a slightly soft trend.

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

11,000

1,563

0

0

201/No.1 (3.0 x 1,219 x C)

Foshan

Guangzhou Lianzhong

7,700

1,094

-100

-14

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,900

2,259

-100

-14

304/No.1 (3.0 x 1,219 x C)

Wuxi

Taigang

15,850

2,251

-50

-7

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

7,900

1,122

0

0

430/No.1 (3.0 x 1,500 x C)

Wuxi

Taigang

7,900

1,122

0

0

13 percent VAT is included in the above prices.

$1 = RMB 7.04


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