China’s domestic stainless steel market has been mostly stable in the past seven days, though with some slight upticks seen for certain products.
Global nickel prices have fluctuated on a slight uptrend during the past week. On July 24, the three-month nickel price at the London Metal Exchange (LME) closed at $13,600/mt, while LME nickel inventory on the same date totaled 248,307 mt.
Overall trading activity in the Chinese domestic stainless market has remained slack in the past week, while support from the cost side is still strong. Supply volumes have increased recently, contributing to negative sentiment in the market. Meanwhile, China's Ministry of Commerce (MOC) has decided to initiate anti-dumping investigations into imported stainless steel billet and stainless steel hot rolled plates/coils originating in Indonesia and other countries, which may have a positive influence on the domestic stainless steel market pricetrend. As for the coming week, it is thought that the Chinese domestic stainless steel market price may fluctuate on a slight uptrend amid unchanged demand and support from the cost side.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,479 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,550 |
1,265 |
↑50 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,050 |
2,374 |
↑50 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,500 |
2,441 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,550 |
1,265 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,600 |
1,272 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.76