China’s domestic stainless steel prices have continued their downward trend during the past seven days.
Global nickel prices have declined during the past week. On June 14, the three-month nickel price at the London Metal Exchange (LME) closed at $25,215/mt, while LME nickel inventory on the same date totaled 70,056 mt.
Domestic stainless steel prices have declined under the impact of lower nickel prices. Demand has lately showed a slight recovery but is still on the weak side due to the off-season. As for the week ahead, it is believed that domestic stainless steel prices may continue to move down due to the weakness on the cost side.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
14,800 |
2,192 |
-250 |
-67 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,400 |
1,392 |
-150 |
-41 |
304/2B (1.0 x 1,219 x C) |
Taigang |
19,900 |
2,947 |
-800 |
-159 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
19,000 |
2,814 |
-800 |
-158 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,900 |
1,318 |
-200 |
-48 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,333 |
0 |
-18 |
13 percent VAT is included in the above prices.
$1 = RMB 6.752 (June 15)
