China’s domestic stainless steel prices have moved down during the past seven days.
Global nickel prices have softened slightly during the past week. On May 24, the three-month nickel price at the London Metal Exchange (LME) closed at $26,485/mt, while LME nickel inventory on the same date totaled 72,120 mt.
Trading activity in the domestic stainless steel market has improved a little in the past week but is still considered to be weak. Supply has increased somewhat since both production volumes and transportation have recovered after the easing of some Covid restriction measures. As for the week ahead, considering prices of stainless steel are already close to cost levels and there is not much space for further reductions, it is believed that stainless steel prices could rebound by a small margin.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,400 |
2,314 |
0 |
30 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,950 |
1,495 |
-100 |
4 |
304/2B (1.0 x 1,219 x C) |
Taigang |
20,800 |
3,125 |
-500 |
-34 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,250 |
3,043 |
-500 |
-35 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,350 |
1,405 |
-50 |
11 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,100 |
1,367 |
0 |
18 |
13 percent VAT is included in the above prices.
$1 = RMB 6.665
