China’s domestic stainless steel prices have mostly decreased by slight margins during the past seven days.
Global nickel prices have softened during the past week. On July 8, the three-month nickel price at the London Metal Exchange (LME) closed at $15,015/mt, while LME nickel inventory on the same date totaled 202,620mt.
Overall trading activity in the domestic stainless steel market has been slack in the past week due to the off-season and hot and rainy weather, while most prices have decreased a little against the backdrop of softer nickel prices. As for the week ahead, it is believed that stainless steel prices may indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,300 | 1,719 | -50 | -7 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 6,950 | 971 | -50 | -7 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,500 | 1,887 | 0 | 1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 12,650 | 1,768 | 50 | 7 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,000 | 978 | -50 | -7 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,600 | 923 | 0 | 0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.154