China’s domestic stainless steel prices have continued their soft trend during the past seven days.
Global nickel prices have moved down a little during the past week. On June 25, the three-month nickel price at the London Metal Exchange (LME) closed at $14,905/mt, while LME nickel inventory on the same date totaled 203,928 mt.
Overall trading activity in the domestic stainless steel has been sluggish, while prices have moved down amid the downticks seen in nickel prices. Decreases have been larger for some stainless steel products due to high market inventory levels during the off-season. As for the week ahead, it is believed that stainless steel prices may soften again, but by smaller margins.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,723 |
0 |
+2 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,000 |
977 |
-50 |
-6 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,400 |
1,870 |
-50 |
-5 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
12,500 |
1,744 |
-500 |
-67 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,050 |
984 |
-150 |
-20 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,600 |
921 |
-100 |
-13 |
13 percent VAT is included in the above prices.
$1 = RMB 7.167