In the past seven days, China’s domestic stainless steel prices first moved down and later started to rebound, but are still down slightly on week-on-week basis.
Global nickel prices have declined by a small margin during the past week. On July 4, the three-month nickel price at the London Metal Exchange (LME) closed at $22,850/mt, while LME nickel inventory on the same date totaled 66,624 mt.
Overall trading activity in the domestic stainless steel market has been weak due to the off-season. Traders mostly hold a negative view of the market prospects and were willing to offer certain discounts in order to close more deals, but, with supply and inventories decreasing, stainless prices then started to rebound a little. As for the week ahead, it is believed that stainless steel prices may indicate a minor decrease.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,112 |
0 |
-7 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,950 |
1,331 |
0 |
-4 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,950 |
2,818 |
-50 |
-16 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,700 |
2,632 |
-200 |
-38 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,900 |
1,175 |
-400 |
-63 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,800 |
1,309 |
200 |
26 |
13 percent VAT is included in the above prices.
$1 = RMB 6.725
