China’s domestic stainless steel prices have mostly moved down slightly week on week, amid fluctuations.
Global nickel prices have edged up during the past week, having first increased and then softened. On June 16, the three-month nickel price at the London Metal Exchange (LME) closed at $13,035/mt, while LME nickel inventory on the same date totaled 233,118 mt.
Overall trading activity in the domestic stainless steel market has improved slightly and is at normal levels. The recent softening of nickel prices has led most stainless producers to reduce their quotations by a small margin. Also, market inventories have increased, exerting some pressure on prices. As for the week ahead, it is believed that stainless steel prices may continue to indicate downticks, against the backdrop of the influence of the rainy weather in southern China, though nickel prices will provide some support.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,350 |
1,602 |
-50 |
-11 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,850 |
967 |
-50 |
-9 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,350 |
2,025 |
-50 |
-12 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,350 |
2,025 |
0 |
-5 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,100 |
1,002 |
50 |
5 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,016 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.087