China’s domestic stainless steel prices have moved down slightly during the past seven days.
Global nickel prices have decreased during the past week. On July 12, the three-month nickel price at the London Metal Exchange (LME) closed at $21,310/mt, while LME nickel inventory on the same date totaled 64,074 mt.
Overall trading activity in the domestic stainless steel market has been weak due to the off-season and as coronavirus measures have continued to impact the Wuxi market. Stainless steel future prices have moved up by a small margin, providing some support for spot prices. As for the week ahead, it is believed that stainless steel prices may indicate a further slight softening.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,111 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,950 |
1,330 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,850 |
2,802 |
-100 |
-16 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,600 |
2,616 |
-100 |
-16 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,600 |
1,130 |
-300 |
-45 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,700 |
1,293 |
-100 |
-15 |
13 percent VAT is included in the above prices.
$1 = RMB 6.728
