Local Chinese stainless steel prices mostly move down slightly, some prices stable

Wednesday, 10 July 2019 17:33:50 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have mostly softening slightly during the past seven days, though with some product prices also moving sideways.

Global nickel prices have fluctuated in an upward direction during the past week. On July 9, the three-month nickel price at the London Metal Exchange (LME) closed at $12,700/mt, while LME nickel inventory on the same date totaled 154,101 mt.

Domestic stainless steel prices have mostly moved down slightly in the past week, while overall trading activity has been at low levels. The ongoing weakness of demand has prevented any upward movement of prices, and traders have been more willing to cut their prices slightly in order to close more deals. Inventories in the market have increased by a small margin. As for the week ahead, it is believed that domestic stainless steel prices may indicate small fluctuations.

Specification (mm)

Region

Steel plant/origin

Price (RMB/mt)

Price ($/mt)

Weekly change (RMB/mt)

202/No.1 (3.0 x 120 x C)

Foshan/Lecong

Guangzhou Lianzhong

10,400

1,514

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

7,800

1,135

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

15,000

2,183

↓50

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

14,900

2,169

↓50

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

7,800

1,135

↓50

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

7,900

1,150

0

 

13 percent VAT is included in the above prices.

$1 = RMB 6.87


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