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