Stainless Sheet 304----LME Nickel prices steady weakening
August 30 closing price of LME nickel $ 13,789, down $ 316, inventory 212,070 tons, reducing 150 tons. August 30 closing price of $ 7,111 LME copper, down $ 50.5, inventories 588,000, increasing 10,325 tons. Capital risk appetite continues to weaken, LME nickel fell 2.24 percent, and enter below the average system, facing the end of a technical rebound danger; material still weak nickel prices fell, wait for buying opportunities.
Last week Wuxi Wuxi resources market, showing 100 yuan / ton decline, TISCO, Jiuquan base price of cold-rolled coil is only reported to 16,300 yuan / ton, Zhang Pu, Po new aspect to the mainstream market prices reported 16,400 yuan / tons. Hot markets such as Southwest, East special resources, a further drop in prices, Southwestern Resources reported 15,000 yuan / ton, East special resources reported to 14,900 yuan / ton. The prices Foshan aspects were also similar to cold-rolled prices fell 100 yuan / ton, the current base price TISCO four feet in cold burr 16,500 yuan / ton, five feet flash base price in 16400 yuan / ton, a few businesses have the goods, Jiuquan, Zhang Qingpu Resource small difference slightly above market price. East special hot rolled coil prices were flat, burr reported to 15,100 yuan / ton. Resources, the two markets are showing scarce state resources, businesses are very price but nonetheless intends although recent nickel prices continued to show a downward trend, but fell again on Friday, $ 300, I will offer 304 stainless steel is expected today as the decline in nickel prices And to follow, in the range of 100 yuan / ton.
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