During the past week, prices in China’s domestic stainless steel market have either moved sideways or indicated slight fluctuations.
Global nickel prices have recorded a minor softening compared to one week earlier. On July 11, the three-month nickel price at the London Metal Exchange (LME) closed at $9,130mt, while LME nickel inventory on the same date totaled 372,588 mt.
Overall trading activity in the domestic stainless steel market in China has remained weak due to the relatively high levels of prices and the impact of hot weather conditions. Traders are mostly focused on sales and so slight reductions have been seen in some of their product prices. With trading activity continuing to remain at low levels, the trend of stainless steel prices is expected to be mainly determined by the movement of nickel prices. As for the coming week, it is thought that domestic stainless steel prices may continue to fluctuate slightly.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,500 |
1,399 |
↓100 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,000 |
1,178 |
↓100 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,300 |
2,106 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
15,000 |
2,209 |
↑100 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,200 |
1,208 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,200 |
1,208 |
0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.79