China’s domestic stainless steel prices have mostly followed a stable trend in the past seven days, with some slight downticks seen too.
Global nickel prices have softened a little during the past week. On November 4, the three-month nickel price at the London Metal Exchange (LME) closed at $15,060/mt, while LME nickel inventory on the same date totaled 252,750 mt.
Overall trading activity in the domestic stainless steel market has improved a little in the past week but is still considered to be weak. Most traders have chosen to hold their quoted prices stable, even though nickel prices have softened. As for the week ahead, considering the off-season and the weakness of the demand side, it is believed that stainless steel prices may decline by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,200 |
1,721 |
0 |
-1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,500 |
1,058 |
0 |
-1 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,850 |
1,953 |
-50 |
-9 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,100 |
1,848 |
0 |
-2 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,600 |
1,072 |
0 |
-1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,800 |
959 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.090