China’s domestic stainless steel prices have followed an upward trend the during past seven days.
Global nickel prices have also moved up during the past week. On May 5, the three-month nickel price at the London Metal Exchange (LME) closed at $19,635/mt, while LME nickel inventory on the same date totaled 276,888 mt.
Overall trading activity in the domestic stainless steel market has improved slightly in the past week, with downstream buyers seeking to increase their stocks, and is currently considered to be at normal levels, while prices have moved up again amid the increases seen in nickel prices. As for the week ahead, since the support from the cost side is still strong, it is believed that stainless steel prices may fluctuate at high price levels.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,801 |
0 |
1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
8,300 |
1,211 |
100 |
15 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
16,400 |
2,392 |
300 |
45 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
15,650 |
2,283 |
150 |
24 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,550 |
1,101 |
50 |
8 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,850 |
999 |
0 |
1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.856
