China’s domestic stainless steel prices have indicated either a stable or slight soft movement during the past week.
Global nickel prices have declined during the past week. On September 16, the three-month nickel price at the London Metal Exchange (LME) closed at $15,340/mt, while LME nickel inventory on the same date totaled 230,454 mt.
Overall trading activity in the domestic stainless steel market has improved slightly ahead of the National Day holiday and is currently considered to be at normal levels. Some prices have decreased due to the influence of softer nickel prices, while some traders have kept their prices stable due to the improved demand. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,300 | 1,730 | -50 | -9 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,500 | 1,055 | -50 | -8 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 14,050 | 1,977 | 0 | -2 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,400 | 1,885 | -100 | -16 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,069 | 0 | -1 |
| 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 7.108
