China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days.
Global nickel prices have softened slightly during the past week. On July 7, the three-month nickel price at the London Metal Exchange (LME) closed at $16,275/mt, while LME nickel inventory on the same date totaled 274,620 mt.
Overall trading activity in the domestic stainless steel has remained sluggish during the past week. Nickel prices have softened a little, reducing the support for stainless steel prices. However, most stainless steel traders have kept their quoted prices stable since trading activity is quite sluggish. As for the week ahead, it is believed that stainless steel prices may edge down by slight margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,400 |
1,821 |
0 |
0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
8,300 |
1,219 |
0 |
0 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
16,000 |
2,350 |
0 |
0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
15,100 |
2,218 |
-100 |
-15 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,650 |
1,124 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,900 |
1,014 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.808
