China’s domestic stainless steel prices have indicated slight fluctuations during the past week and are mostly unchanged week on week.
Global nickel prices have softened during the past week. On June 8, the three-month nickel price at the London Metal Exchange (LME) closed at $17,985/mt, while LME nickel inventory on the same date totaled 241,392 mt.
With stainless steel future prices increasing at the beginning of the past week, most traders chose to raise their quoted prices slightly. But since raw material prices began to soften and as future prices also decreased, stainless steel prices mostly returned to the same levels seen a week ago. Overall trading activity has been weak due to the off-season. Market inventory has increased slightly. As for the week ahead, it is believed that stainless steel prices may soften slightly considering the weakness of demand.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,500 |
2,111 |
0 |
-6 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,450 |
1,321 |
100 |
12 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
17,900 |
2,799 |
0 |
-8 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
17,900 |
2,799 |
0 |
-8 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,501 |
0 |
-4 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,407 |
0 |
-4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.396