China’s domestic stainless steel prices have mostly followed an upward trend during the past seven days.
Global nickel prices have softened during the past week. On May 28, the three-month nickel price at the London Metal Exchange (LME) closed at $20,495/mt, while LME nickel inventory on the same date totaled 83,730 mt.
Overall trading activity in the domestic stainless steel market has improved and is considered to be at normal levels, while most traders have decided to increase their stainless steel prices due to the low levels of inventories and production, despite the softer nickel prices. As for the week ahead, it is believed that domestic stainless steel prices may just indicate small fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,800 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,750 |
1,230 |
150 |
21 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,850 |
2,088 |
50 |
6 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,200 |
1,997 |
100 |
13 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,050 |
1,132 |
-50 |
-8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,027 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.111
