China’s domestic stainless steel prices have moved up by small margins for most products during the past seven days.
Global nickel prices have indicated small increases during the past week.
On May 13, the three-month nickel price at the London Metal Exchange (LME) closed at $15,745/mt, while LME nickel inventory on the same date totaled 198, 516 mt.
Overall trading activity in the domestic stainless steel market has been at a normal level in the past week, while prices have been boosted by the small increases in nickel prices and stainless steel futures prices. As for the week ahead, it is believed that domestic stainless steel prices may rise further by small margins.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,500 | 1,737 | 0 | 1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,400 | 1,028 | 50 | 8 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,950 | 1,939 | 200 | 29 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,300 | 1,848 | 100 | 15 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,400 | 1,028 | 0 | 1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,750 | 938 | 0 | 1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.196