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