As of July 26, China’s domestic stainless steel prices are almost at the same levels as one week ago.
Global nickel prices have continued their upward trend in the past week. On July 25, the three-month nickel price at the London Metal Exchange (LME) closed at $10,010/mt, while LME nickel inventory on the same date totaled 375,138 mt.
In the past seven days, domestic stainless steel prices first declined after the increases recorded in previous weeks, but later started to rebound with the support of rising nickel prices. Stainless steel prices are now almost at the same levels as one week ago. Overall trading activity is still at low levels but downstream buyers are now more willing to conclude purchases given the increases seen in nickel prices. As for the coming week, it is believed that Chinese domestic stainless steel prices may move on an upward trend.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,800 |
1,452 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,300 |
1,230 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,296 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,500 |
2,296 |
↑100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,600 |
1,274 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,300 |
1,230 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.75