China's domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have moved up slightly during the past week. On August 4, the three-month nickel price at the London Metal Exchange (LME) closed at $17,150/mt, while LME nickel inventory on the same date totaled 264, 876mt.
Overall trading activity in the domestic stainless steel market has remained sluggish amid the hot summer weather during the past week, though prices have remained stable, supported by upticks in nickel prices. Both production volumes and market inventories have remained at low levels. As for the week ahead, it is believed that stainless steel prices may just fluctuate by small margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,400 |
1,826 |
0 |
0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
8,250 |
1,215 |
0 |
0 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
15,700 |
2,313 |
0 |
0 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
14,800 |
2,180 |
0 |
0 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,600 |
1,119 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,950 |
1,024 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.789
