China’s domestic stainless steel prices have fluctuated slightly in the past week, with some prices moving sideways.
Global nickel prices have fluctuated on a soft trend during the past week. On July 10, the three-month nickel price at the London Metal Exchange (LME) closed at $14,155/mt, while LME nickel inventory on the same date totaled 263,994 mt.
Trading activity in the domestic stainless steel market has remained at low levels in the past seven days. Environmental measures have contributed to slight upticks in prices of some stainless steel products, though some product prices have softened slightly due to the weakness of demand. Some traders are willing to offer discounts in order to close more deals. As for the coming week, domestic stainless steel prices may continue to fluctuate slightly amid weak demand and support from the cost side.
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
9,900 |
1,484 |
↑100 |
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,400 |
1,259 |
↑100 |
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
15,900 |
2,384 |
↓50 |
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,500 |
2,474 |
0 |
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,650 |
1,297 |
0 |
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,600 |
1,289 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.67