China’s domestic stainless steel prices have increased week on week.
Global nickel prices first increased and then declined in the past week, and are now lower week on week. On June 15, the three-month nickel price at the London Metal Exchange (LME) closed at $17,580/mt, while LME nickel inventory on the same date totaled 240,492 mt.
Domestic stainless steel prices have followed a mostly upward trend during the past week. Overall trading activity has been at normal levels since buyers needed to increase stock levels after the recent holiday. Prices of 400 series products have mostly moved sideways due to increasing inventory levels. The recent decreases in nickel prices will likely exert pressure on stainless steel prices. As for the week ahead, it is believed that stainless steel prices may fluctuate in a downward direction.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,600 |
2,122 |
100 |
12 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,500 |
1,326 |
50 |
5 |
304/2B (1.0 x 1,219 x C) |
Taigang |
18,200 |
2,840 |
300 |
42 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,100 |
2,825 |
200 |
26 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,498 |
0 |
-3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,404 |
0 |
-3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.408
