China’s domestic stainless steel prices have followed an upward trend during the past seven days.
Global nickel prices have also increased during the past week. On August 12, the three-month nickel price at the London Metal Exchange (LME) closed at $15,360/mt, while LME nickel inventory on the same date totaled 211,746 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while prices have increased, supported by rises in nickel prices and in stainless steel futures prices. As for the week ahead, it is believed that domestic stainless steel prices may increase again, though by smaller margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,731 |
0 |
1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,550 |
1,058 |
200 |
29 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,900 |
1,948 |
150 |
23 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,250 |
1,857 |
200 |
30 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,400 |
1,037 |
200 |
29 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,650 |
932 |
50 |
8 |
13 percent VAT is included in the above prices.
$1 = RMB 7.135