China’s domestic stainless steel prices have indicated small fluctuations during the past seven days.
Global nickel prices have softened slightly during the past week. On June 25, the three-month nickel price at the London Metal Exchange (LME) closed at $17,235/mt, while LME nickel inventory on the same date totaled 92,010 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the off-season and hot weather. Stainless steel futures prices have lately showed a rebounding trend, causing some stainless steel spot prices to rebound as well. As for the week ahead, it is believed that stainless steel prices may continue to indicate minor fluctuations, amid the off-season and support from the cost side.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,796 |
0 |
-2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,550 |
1,200 |
-100 |
-16 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,550 |
2,042 |
+50 |
+4 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,850 |
1,944 |
-100 |
-17 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,130 |
0 |
-1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,025 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.125
