China’s domestic stainless steel prices have mostly increased slightly during the past week.
In the same period, global nickel prices have also fluctuated slightly upward. On May 18, the three-month nickel prices at the London Metal Exchange (LME) closed at $18,010/mt, while LME nickel inventory on the same date totaled 253,368mt.
Domestic stainless steel prices have first increased, then moved downwards during the past week and closed the week with a slight rise as compared to previous week. Due to the macro policy of the government in order to control the rises in raw material prices, steel market has mostly showed a downward tendency and this situation has prompted stainless steel prices to decrease slightly. However, stainless steel prices are still supported by high nickel prices and low market inventory and overall trading activity is at normal levels. As for the week ahead, prices in the local Chinese stainless steel market is expected to fluctuate with slightly downward trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,500 |
2,101 |
200 |
31 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,315 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,100 |
2,817 |
200 |
31 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,100 |
2,817 |
200 |
31 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,494 |
50 |
8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,401 |
-100 |
-16 |
13 percent VAT is included in the above prices.
$1 = RMB 6.426
