China’s domestic stainless steel prices have fluctuated by small margins during the past week, with some slight decreases seen week on week for some products.
Global nickel prices have softened slightly during the past week. On May 15, the three-month nickel price at the London Metal Exchange (LME) closed at $19,005/mt, while LME nickel inventory on the same date totaled 80,814 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past seven days. Market inventory has increased a little, which exerts some pressure on stainless steel prices. As for the week ahead, since the support from the cost side is still strong, it is believed that domestic stainless steel prices may indicate some small increases.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,600 |
1,210 |
100 |
14 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,550 |
2,048 |
-50 |
-8 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,956 |
-100 |
-15 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,140 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,027 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.105