China’s domestic stainless steel prices have moved down during the past seven days.
Global nickel prices have increased during the past week. On September 24, the three-month nickel price at the London Metal Exchange (LME) closed at $16,735/mt, while LME nickel inventory on the same date totaled 124,140 mt.
Overall trading activity in the domestic stainless steel market has remained weak, contributing to the ongoing soft trend of prices, though some prices have lately started to edge up due to the upward movement of nickel prices. As for the week ahead, considering that the support from nickel prices is getting stronger and that demand may see a recovery, it is believed that stainless steel prices may rebound slightly.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,550 |
1,788 |
-50 |
10 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
7,550 |
1,075 |
-150 |
-11 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,200 |
2,023 |
-50 |
12 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,450 |
1,916 |
-250 |
-17 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,450 |
1,061 |
-50 |
3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,026 |
0 |
10 |
13 percent VAT is included in the above prices.
$1 = RMB 7.020