China’s domestic stainless steel market prices have indicated a mostly stable trend during the past week.
Global nickel price has showed a reduce trend during past week. On June 5, the three-month nickel price at the London Metal Exchange (LME) closed at $11,811/mt, while LME nickel inventory on the same date totaled 158,916mt.
Domestic stainless steel prices in China have returned to a mostly stable trend during the past week. Overall trading activity in the local Chinese stainless steel market has increased but is still at low levels. With the support from the nickel prices, most types of stainless steel hold a stable trend during this off season. According to market players, certain producers will reduce their production volumes during June. As for the week ahead, it is believed that stainless steel prices in China may slightly fall.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,491 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,800 |
1,129 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,156 |
0 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,800 |
2,142 |
↓50 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,000 |
1,158 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,000 |
1,158 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.91