China’s domestic stainless steel prices have moved down by small margins during the past seven days.
Global nickel prices have followed a downward trend during the past week. On August 19, the three-month nickel price at the London Metal Exchange (LME) closed at $15,060/mt, while LME nickel inventory on the same date totaled 209,328 mt.
Overall trading activity in the domestic stainless steel market has been sluggish during the past week, while prices have moved down a little given the soft trend of nickel prices. As for the week ahead, it is believed that stainless steel prices may indicate minor fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,300 |
1,723 |
-50 |
-8 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,400 |
1,037 |
-150 |
-21 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,850 |
1,940 |
-50 |
-8 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,300 |
1,863 |
50 |
6 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,400 |
1,037 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,650 |
932 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.138