China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days.
Global nickel prices have indicated small fluctuations during the past week. On July 30, the three-month nickel price at the London Metal Exchange (LME) closed at $16,050/mt, while LME nickel inventory on the same date totaled 105,090 mt.
Overall trading activity has remained lackluster due to the ongoing off-season, while prices have been mainly stable as there have been only very minor fluctuations in nickel prices. Market inventory is still at high levels, while supply volumes have lately declined slightly. As for the week ahead, it is believed that stainless steel prices may indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,794 |
0 |
0 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,400 |
1,177 |
0 |
0 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,550 |
2,039 |
0 |
0 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,950 |
1,955 |
0 |
0 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,850 |
1,100 |
-50 |
-7 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,023 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.135
