China’s domestic stainless steel prices have followed a mostly stable trend during the past seven days.
Global nickel prices have moved down during the past week. On June 30, the three-month nickel price at the London Metal Exchange (LME) closed at $16,310/mt, while LME nickel inventory on the same date totaled 274,440 mt.
Overall trading activity in the Chinese domestic stainless steel market has been sluggish during the past week. While upstream nickel prices have declined sharply, most stainless steel traders have chosen to hold their quoted prices stable for now. As for the week ahead, it is believed that stainless steel prices may soften slightly considering that the support from the cost side has weakened.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,822 | 0 | 3 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,300 | 1,219 | -50 | -5 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 16,000 | 2,351 | 0 | 4 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 15,200 | 2,233 | 0 | 4 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,650 | 1,124 | 0 | 2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,900 | 1,014 | 0 | 2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.807
