China’s domestic stainless steel prices have moved a stable trend during the past week.
In the past week, global nickel prices first moved upwards and then decreased, and are now lower compared to one week earlier. On June 18, the three-month nickel price at the London Metal Exchange (LME) closed at $11,775/mt, while LME nickel inventory on the same date totaled 167,130 mt.
Overall trading activity in the domestic stainless steel market has remained at low levels amid the current off-season. Market inventory is at high levels and has continued to increase due to the weakness of demand. However, stainless steel producers have recently been trying to keep prices stable by reducing production volumes. As for the week ahead, it is believed that domestic stainless steel prices may remain mostly stable, with slight fluctuations also possible depending on trading activity.
| Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
| 202/No.1 (3.0 x 120 x C) | Foshan/Lecong | Guangzhou Lianzhong | 10,300 | 1,493 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Foshan/Lecong | Guangzhou Lianzhong | 7,800 | 1,130 | 0 |
| 304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 14,900 | 2,159 | 0 |
| 304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 14,850 | 2,152 | 0 |
| 430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 8,000 | 1,159 | 0 |
| 430/No.1(3.0 x 1,219 x C) | Wuxi | Krupp | 8,000 | 1,159 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.90