China’s domestic stainless steel prices have mostly softened during the past seven days.
Global nickel prices have moved down by a small margin during the past week. On June 20, the three-month nickel price at the London Metal Exchange (LME) closed at $21,960/mt, while LME nickel inventory on the same date totaled 37,782 mt.
Overall trading activity in the domestic stainless steel market has remained weak due to the off-season. Meanwhile, stainless futures prices have followed a downward trend, exerting pressure on stainless steel spot prices. Most traders have been willing to offer lower prices in order to close more deals. As for the week ahead, considering the weakness of demand and of nickel prices, it is believed that stainless steel prices may indicate a further minor decline.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,000 |
1,811 |
0 |
-6 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,600 |
1,198 |
-150 |
-25 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,650 |
2,180 |
-200 |
-35 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,350 |
2,138 |
-150 |
-28 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,128 |
100 |
10 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,500 |
1,045 |
0 |
-3 |
13 percent VAT is included in the above prices.
$1 = RMB 7.180