China’s domestic stainless steel market prices have fluctuated by small margins during the past seven days.
Global nickel prices have moved up slightly during the past week. On June 30, the three-month nickel price at the London Metal Exchange (LME) closed at $12,805/mt, while LME nickel inventory on the same date totaled 233,898 mt.
In the past week, domestic stainless steel prices in China first increased slightly with the support of nickel prices, but most traders subsequently chose to reduce their quotations as the end of the month was approaching and they wanted to close more deals and also as demand has remained weak due to the off-season and the rainy weather in some regions, As for the week ahead, it is believed that domestic stainless steel prices may fluctuate on a slightly soft trend amid the ongoing weakness of demand and increases in inventory, despite support from nickel prices.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,050 |
1,563 |
-100 |
-17 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,750 |
955 |
-100 |
-16 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,300 |
2,022 |
0 |
-4 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,350 |
2,029 |
0 |
-4 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,200 |
1,018 |
50 |
5 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,018 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.071
