China’s domestic stainless steel prices have declined slightly on week-on-week basis.
Global nickel prices have decreased by a large margin during the past week. On May 25, the three-month nickel price at the London Metal Exchange (LME) closed at $17,075/mt, while LME nickel inventory on the same date totaled 249,372 mt.
In the past week, domestic stainless steel prices first increased but then started to decline amid decreases in prices of steel and nickel, and are down slightly on week-on-week basis. Trading activity has been at a weakness level. Inventories of some stainless steel products have been at low levels which gave support prices of those stainless steel products. As for the week ahead, amid the weakness of prices of nickel and other raw materials, it is believed that stainless steel prices may edge downwards.
|
Spec. - Grade (mm) |
|
Origin |
Price |
Weekly change |
||
|
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
|
Guangzhou Lianzhong |
13,500 |
2,106 |
0 |
5 |
|
201/No.1 (3.0 x 1,219 x C) |
|
Guangzhou Lianzhong |
8,450 |
1,318 |
0 |
3 |
|
304/2B (1.0 x 1,219 x C) |
|
Taigang |
17,900 |
2,793 |
-200 |
-24 |
|
304/No.1 (3.0 x 1,219 x C) |
|
Taigang |
17,900 |
2,793 |
-200 |
-24 |
|
430/2B (3.0 x 1,219 x C) |
|
Taigang |
9,600 |
1,498 |
0 |
4 |
|
430/No.1 (3.0 x 1,500 x C) |
|
Taigang |
9,000 |
1,404 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.410