China’s domestic stainless steel prices have softened during the past seven days.
Global nickel prices have moved down sharply during the past week. On September 12, the three-month nickel price at the London Metal Exchange (LME) closed at $19,865/mt, while LME nickel inventory on the same date totaled 38,280 mt.
Overall trading activity in the domestic stainless steel market has remained weak, while prices have softened due to the significant decreases seen in nickel prices. Most traders hold a positive view about the demand side due to the anticipated sales season, but trading activity has not seen any positive change yet. As for the week ahead, it is believed that stainless steel prices may move down again amid the weaker support from the cost side.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,850 |
1,787 |
-100 |
-12 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,750 |
1,217 |
-100 |
-13 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
16,050 |
2,233 |
-200 |
-25 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,750 |
2,191 |
-250 |
-32 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,400 |
1,168 |
0 |
+1 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,400 |
1,029 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.189 (September 13)