China’s domestic stainless steel prices have mostly moved down slightly during the past week.
Global nickel prices have declined by small margins during the past week. On September 9, the three-month nickel price at the London Metal Exchange (LME) closed at $15,105/mt, while LME nickel inventory on the same date totaled 218,070 mt.
Overall trading activity in the domestic stainless steel market has been sluggish during the past week, while most stainless steel traders chose to slightly decrease their quoted prices in order to close more deals. However, continuing support from the cost side limited the size of the decreases. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,738 |
0 |
1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,500 |
1,055 |
0 |
1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,950 |
1,963 |
-100 |
-13 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,300 |
1,872 |
-100 |
-13 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,550 |
1,062 |
50 |
8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,650 |
936 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.106