In the past week, global nickel prices first increased but then declined, with prices now down by a relatively significant margin compared to one week earlier. On June 19, the three-month nickel price at the London Metal Exchange (LME) closed at $14,655/mt, while LME nickel inventory on the same date totaled 275,658 mt.
Overall trading activity in the domestic stainless steel market has remained slack in the past week due to the off-season for business and the Dragon Boat Festival. Accordingly, there is lower support for prices despite the reduced stainless steel production resulting from environmental measures. It is thought that the local stainless steel market price may follow a soft trend in the week ahead, especially as traders may lower their prices with the end of the month approaching.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,600 |
1.484 |
↓200 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,100 |
1.252 |
↓200 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,000 |
2.473 |
↓100 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,350 |
2.527 |
↓50 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,600 |
1.329 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,400 |
1.298 |
0 |
16 percent VAT is included in the above prices
$1 = RMB 6.47