China's domestic stainless steel prices have indicated slight fluctuations during the past seven days.
Global nickel prices have softened during the past week. On July 28, the three-month nickel price at the London Metal Exchange (LME) closed at $16,945/mt, while LME nickel inventory on the same date totaled 267,522 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the off-season and the hot summer weather, while prices have generally remained stable amid some slight fluctuations, even though upstream nickel prices have softened. Production volumes and market inventories are still on the low side, which provides support for stainless steel prices. As for the week ahead, it is believed that stainless steel prices may again indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,826 | 0 | 1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,250 | 1,215 | -50 | -7 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,700 | 2,312 | 100 | 16 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,800 | 2,180 | 0 | 1 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,119 | 0 | 0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,950 | 1,024 | 0 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.790
