China's domestic stainless steel market has followed a stable trend in the past seven days.
Global nickel prices have increased during the past week. On June 9, the three-month nickel price at the London Metal Exchange (LME) closed at $13,495/mt, while LME nickel inventory on the same date totaled 467,904 mt. Average stainless steel prices in the local Chinese market are presented in the table below.
Despite the increases in nickel prices, domestic stainless steel prices in China have moved sideways in the past week due to the slack trading activity in the market. As for the coming week, it is thought that slight rises may be seen in stainless steel prices in the coming week on the back of the rises in nickel prices.
Spec. | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No,1(3,0*120*C) | Foshan | Guangzhou lianzhong | 11,500 | 1,852 | 0 |
201/No,1(3,0*1219*C) | Foshan | Guangzhou lianzhong | 7,600 | 1,224 | 0 |
304/2B(1,0*1219*C) | Wuxi | Taigang | 14,500 | 2,335 | 0 |
304/No,1(3,0*1219*C) | Wuxi | Taigang | 14,050 | 2,262 | 0 |
430/2B(3,0*1219*C) | Wuxi | Taigang | 7,200 | 1,159 | 0 |
430/BA(1,0*1219*C) | Wuxi | Krupp | 6,900 | 1,111 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21