China’s domestic stainless steel prices have indicated an upward trend during the past seven days.
Global nickel prices have risen strongly during the past week. On July 13, the three-month nickel price at the London Metal Exchange (LME) closed at $18,725/mt, while LME nickel inventory on the same date totaled 226,230 mt.
Domestic stainless steel prices have also indicated an upward trend during the past week on the back of the strong increases in stainless steel prices. Overall trading activity has increased and is currently at normal levels. Meanwhile, production restrictions have kept supply at low levels, which has also supported stainless steel prices. As for the week ahead, it is believed that stainless steel prices may continue to rise but at a slower pace.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,900 |
2,145 |
300 |
45 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
9,050 |
1,396 |
400 |
61 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
19,300 |
2,978 |
800 |
121 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,800 |
2,901 |
800 |
121 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
10,100 |
1,558 |
300 |
45 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,389 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.481