China’s domestic stainless steel prices have mostly remained stable in the past week, with some slight fluctuations also seen depending on demand and inventories.
Global nickel prices have softened during the past week. On May 10, the three-month nickel price at the London Metal Exchange (LME) closed at $28,425/mt, while LME nickel inventory on the same date totaled 73,122 mt.
Overall trading activity in the domestic stainless steel market has improved slightly on the back of better demand after the Labour Day holiday. Decreases in nickel prices and in stainless future prices may influence stainless steel spot prices in the coming period. As for the week ahead, it is believed that stainless steel prices may follow a slightly soft trend.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,700 |
2,333 |
0 |
-60 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,350 |
1,538 |
0 |
-40 |
304/2B (1.0 x 1,219 x C) |
Taigang |
21,500 |
3,195 |
0 |
-82 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
20,850 |
3,099 |
100 |
-65 |
430/2B (3.0 x 1,219 x C) |
Taigang |
9,600 |
1,427 |
0 |
-37 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,100 |
1,352 |
-50 |
-42 |
13 percent VAT is included in the above prices.
$1 = RMB 6.729
