China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days.
Global nickel prices have increased during the past week. On June 13, the three-month nickel price at the London Metal Exchange (LME) closed at $22,110/mt, while LME nickel inventory on the same date totaled 37,704 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the off-season and hot weather conditions, while the increases in nickel prices have provided support for stainless steel prices. However, since demand remains weak, some traders have been ready to offer certain discounts in order to close more deals. As for the week ahead, considering the support from the cost side and the weakness of demand, it is believed that stainless steel prices may just indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,000 |
1,816 |
0 |
-9 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,750 |
1,223 |
0 |
-6 |
304/2B (1.0 x 1,219 x C) |
Taigang |
15,850 |
2,215 |
0 |
-12 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,500 |
2,166 |
0 |
-11 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,000 |
1,118 |
50 |
1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,500 |
1,048 |
0 |
-5 |
13 percent VAT is included in the above prices.
$1 = RMB 7.157