China’s domestic stainless steel prices have mostly indicated slight decreases during the past seven days.
Global nickel prices have followed a downward trend during the past week. On October 15, the three-month nickel price at the London Metal Exchange (LME) closed at $17,415/mt, while LME nickel inventory on the same date totaled 133,284 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels. Upstream nickel prices and stainless steel futures prices have both indicated minor decreases after the sharp increases during the National Day holiday period. Demand has slackened a little and traders have mostly been ready to offer some discounts in order to close more deals. As for the week ahead, it is believed that domestic stainless steel prices may move up by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,763 |
0 |
-15 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,000 |
1,124 |
-50 |
-17 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,650 |
2,058 |
-100 |
-32 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,953 |
0 |
-17 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,650 |
1,075 |
-100 |
-24 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,011 |
0 |
-9 |
13 percent VAT is included in the above prices.
$1 = RMB 7.119