China’s domestic stainless steel prices have mostly showed a slightly soft trend again during the past week.
Global nickel prices have continued to move down slightly during the past week. On June 11, the three-month nickel price at the London Metal Exchange (LME) closed at $18,100/mt, while LME nickel inventory on the same date totaled 85,650mt.
Overall trading activity in the domestic stainless steel market has slackened during the past week and is currently at weak levels, while most prices have continued to soften slightly amid decreases in stainless steel futures prices and increases in stainless steel inventories in the market. As for the week ahead, considering the support from the cost side is weakening and that demand may slacken further due to the off-season, it is believed that most stainless steel prices will continue to move down.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,800 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,700 |
1,223 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,700 |
2,067 |
-100 |
-15 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,100 |
1,982 |
-50 |
-8 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,132 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,026 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.113
