China’s domestic stainless steel prices have continued a mostly stable trend in the past seven days, with some upticks also seen for some grades.
Global nickel prices have decreased during the past week. On July 6, the three-month nickel price at the London Metal Exchange (LME) closed at $18,020/mt, while LME nickel inventory on the same date totaled 232,554 mt.
Overall trading activity in the domestic stainless steel market has recovered slightly and is at normal levels. Prices of nickel and other raw materials have decreased. Since there are low market inventories of 200 and 400 series products, prices of these products have mostly risen slightly. As for the week ahead, considering the supply volume may increase and raw material prices are showing a weak trend, it is believed that stainless steel prices may fluctuate on a slightly soft trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,600 |
2,100 |
0 |
-5 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,650 |
1,336 |
50 |
4 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,500 |
2,857 |
0 |
-7 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,000 |
2,779 |
0 |
-7 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,800 |
1,513 |
150 |
19 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,390 |
0 |
-3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.476