China’s domestic stainless steel prices have mostly followed a downward trend over the past week.
Global nickel prices fluctuated while rebounding slightly during the period. On July 14, the three-month nickel price on the London Metal Exchange (LME) closed at $16,750/mt, while LME nickel inventories totaled 274,704 mt on the same date.
Domestic prices for the main stainless steel grades declined during the past week, while overall trading activity remained weak amid the seasonal lull. Although upstream nickel prices rebounded slightly, the support from the cost side remained limited following the substantial decreases recorded previously.
In the coming week, stainless steel prices are expected to fluctuate with a slight downward tendency, considering the continued weakness on the demand side.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,826 | 0 | 5 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,300 | 1,222 | 0 | 3 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,600 | 2,297 | -400 | -53 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,800 | 2,179 | -300 | -39 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,119 | -50 | -5 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,900 | 1,016 | 0 | 3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.791
