China’s domestic stainless steel prices have indicated a mostly stable trend in the past seven days, with some upticks too.
Global nickel prices have increased during the past week. On June 29, the three-month nickel price at the London Metal Exchange (LME) closed at $18,395/mt, while LME nickel inventory on the same date totaled 233,814 mt.
Domestic stainless steel prices have been mainly stable, with some minor rises in prices for certain grades supported by higher raw material prices. Overall trading activity has remained weak due to the off-season and some production restrictions. Meanwhile, low market inventory has also given support for stainless steel prices. As for the week ahead, it is believed that stainless steel prices may fluctuate on an upward trend.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,600 |
2,105 |
0 |
1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,600 |
1,331 |
50 |
8 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
18,500 |
2,864 |
400 |
63 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
18,000 |
2,786 |
0 |
1 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
9,650 |
1,494 |
0 |
0 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
9,000 |
1,393 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.460