China’s domestic stainless steel prices have softened slightly during the past week.
Global nickel prices have moved down by a small margin during the past week. On August 13, the three-month nickel price at the London Metal Exchange (LME) closed at $16,400/mt, while LME nickel inventory on the same date totaled 113,712 mt.
Overall trading activity in the local stainless steel market is still weak due to the off-season and the hot summer weather, while prices have mostly moved down by slight margins amid the small decreases seen in prices of nickel and stainless steel futures. Supply volumes and inventories have decreased, providing some support for stainless steel prices. As for the week ahead, it is believed that domestic stainless steel prices may fluctuate by small margins.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,792 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,250 |
1,156 |
-150 |
-21 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,550 |
2,038 |
-50 |
-7 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,850 |
1,940 |
-50 |
-7 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,850 |
1,100 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,009 |
-100 |
-14 |
13 percent VAT is included in the above prices.
$1 = RMB 7.142