China’s domestic stainless steel prices have followed a slight downtrend during the past week.
Global nickel prices have moved up during the past week. On August 20, the three-month nickel price at the London Metal Exchange (LME) closed at $16,865/mt, while LME nickel inventory on the same date totaled 114,066 mt.
Overall trading activity in the domestic stainless steel market has remained weak, causing most traders to reduce their quoted prices slightly, though minor increases lately seen in nickel prices and in stainless steel futures prices have provided some support for stainless steel spot prices. As for the week ahead, it is believed that domestic stainless steel prices may just indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,795 |
0 |
+3 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,100 |
1,136 |
-150 |
-20 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,450 |
2,026 |
-100 |
-12 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,800 |
1,935 |
-50 |
-5 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,800 |
1,094 |
-50 |
-6 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,010 |
0 |
+1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.131