Chinese domestic stainless steel prices mostly soften slightly

Wednesday, 31 July 2019 17:00:18 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have mostly softened slightly in the past seven days, with some product prices remaining stable.

Global nickel prices have moved up by a small margin compared to one week ago, having first declined in the given week and then started to rebound. On July 30, the three-month nickel price at the London Metal Exchange (LME) closed at $14,360/mt, while LME nickel inventory on the same date totaled 143,998 mt.

Trading activity in the domestic stainless steel market has been on the low side in the past week. Declines in nickel prices in the early part of the week contributed to the slight softening of stainless steel prices, but the recent rebound in nickel prices is expected to provide support for stainless steel prices in the coming week. It is believed that domestic stainless steel prices may move up slightly in the week ahead.

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

11,000

1,599

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

7,800

1,134

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,600

2,267

↓150

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

15,700

2,282

↓100

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

7,750

1,126

↓50

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

7,900

1,148

0

 

13 percent VAT is included in the above prices.

$1 = RMB 6.88


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