China’s domestic stainless steel prices have moved down by small margins during the past seven days.
Global nickel prices have edged up during the past week. On November 5, the three-month nickel price at the London Metal Exchange (LME) closed at $16,125/mt, while LME nickel inventory on the same date totaled 147,084 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels. Although nickel prices have risen by small margins, most stainless steel traders have chosen to reduce their quoted prices slightly in order to close more deals. As for the week ahead, it is believed that stainless steel prices may indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,768 |
0 |
10 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,700 |
1,085 |
-100 |
-8 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,043 |
100 |
25 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,600 |
1,916 |
-50 |
4 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,400 |
1,042 |
-100 |
-8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,014 |
0 |
6 |
13 percent VAT is included in the above prices.
$1 = RMB 7.099