China’s domestic stainless steel prices have mostly followed a slight uptrend during the past seven days.
Global nickel prices have softened during the past week. On August 5, the three-month nickel price at the London Metal Exchange (LME) closed at $15,055/mt, while LME nickel inventory on the same date totaled 211,254 mt.
Overall trading activity in the domestic stainless steel market has been at a normal level during the past week, while prices have mostly moved up by small margins, supported by low production volumes and inventories. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,729 |
+50 |
+8 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,350 |
1,029 |
+50 |
+7 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,750 |
1,926 |
+50 |
+8 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,050 |
1,827 |
-50 |
-6 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,200 |
1,008 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,600 |
924 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.141
