China’s domestic stainless steel prices have continued to soften during the past seven days.
Global nickel prices have moved down by small margins during the past week. On June 10, the three-month nickel price at the London Metal Exchange (LME) closed at $15,330/mt, while LME nickel inventory on the same date totaled 198,126 mt.
Overall trading activity in the domestic stainless steel market has been slack in the past week, while most traders have chosen to reduce their quoted prices amid weaker support from the cost side. Due to the weakness of demand and further decreases in stainless steel prices, production volumes of stainless steel have been reduced recently. As for the week ahead, it is believed that stainless steel prices may soften further by a small margin.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,727 | -100 | -12 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,100 | 989 | -200 | -27 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,550 | 1,887 | -200 | -26 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,000 | 1,810 | -200 | -26 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,300 | 1,016 | 0 | 1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,700 | 933 | 0 | 1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.182
