Global nickel prices have fluctuated on an upward trend in the past week. On October 11, the three-month nickel price at the London Metal Exchange (LME) closed at $10,430/mt, while LME nickel inventory on the same date totaled 360,828 mt.
Most traders in the domestic stainless steel market have been seeking to increase their inventory levels in the past week and so overall trading activity has picked up, providing support for domestic prices. As for the coming week, it is believed that the domestic stainless steel market may indicate stable or slightly upward movement.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan |
Guangzhou Lianzhong |
9,500 |
1,414 |
↓300 |
201/No.1 (3.0 x 1,219 x C) |
Foshan |
Guangzhou Lianzhong |
7,300 |
1,086 |
↑300 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
13,800 |
2,054 |
↑300 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
13,600 |
2,024 |
↑300 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
7,450 |
1,109 |
↑250 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
6,600 |
982 |
↑200 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.72