China’s domestic stainless steel market has continued its decreasing trend during the past seven days.
Global nickel prices have fluctuated in a downward direction in the past week. On June 6, the three-month nickel price at the London Metal Exchange (LME) closed at $8,860mt, while LME nickel inventory on the same date totaled 379,932 mt.
Domestic stainless steel prices have decreased in the past week amid softer nickel prices and decreases in raw material prices. Trading activity is still sluggish as buyers are maintaining a wait-and-see stance, while sentiment in the market is weak. Traders have reduced their prices in order to attract business. As for the coming week, it is believed that the domestic stainless steel market will continue its downward trend.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 8,800 | 1,296 | ↓200 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 7,300 | 1,075 | ↓200 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 13,200 | 1,944 | ↓400 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 14,300 | 2,106 | ↓500 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 7,600 | 1,119 | ↓100 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 7,900 | 1,163 | 0 |
17 percent VAT is included in the above prices.
$1 = RMB 6.79