China’s domestic stainless steel prices have declined slightly during the past seven days.
Global nickel prices have increased during the past week. On July 26, the three-month nickel price at the London Metal Exchange (LME) closed at $21,740/mt, while LME nickel inventory on the same date totaled 59,382 mt.
Overall trading activity in the domestic stainless steel market has improved a little in the past week but is still weak as the Wuxi market has been making a slow recovery from the coronavirus restrictions. Increasing nickel prices have been providing some support for stainless steel prices, while supply volumes have risen by a small margin lately. As for the week ahead, it is believed that stainless steel prices may indicate further slight decreases.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,200 |
2,097 |
0 |
-8 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,850 |
1,307 |
0 |
-5 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,000 |
2,658 |
-100 |
-25 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,200 |
2,539 |
-200 |
-39 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,150 |
1,056 |
-50 |
-11 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
8,300 |
1,225 |
-200 |
-34 |
13 percent VAT is included in the above prices.
$1 = RMB 6.773