China’s domestic stainless steel market has mostly followed a stable trend during the past seven days.
Global nickel prices have fluctuated in a downward direction in the past week. On May 5, the three-month nickel price at the London Metal Exchange (LME) closed at $12,030/mt, while LME nickel inventory on the same date totaled 231,156 mt.
While nickel prices have softened recently, the strong performance of stainless steel demand in China has led most suppliers in the country to keep their prices stable. Some increases in inventories may exert pressure on prices. As for the week ahead, it is believed that domestic stainless steel prices may move down slightly due to the soft trend of nickel prices.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,050 |
1,563 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,500 |
920 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
13,900 |
1,966 |
0 |
0 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,950 |
1,973 |
0 |
0 |
430/2B (3.0 x 1,219 x C) |
Taigang |
6,850 |
969 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,033 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.069
