China’s domestic stainless steel market has mostly remained stable in the past seven days, though with upticks seen in prices of certain products.
Global nickel prices have moved upwards during the past week. On July 31, the three-month nickel price at the London Metal Exchange (LME) closed at $14,030/mt, while LME nickel inventory on the same date totaled 256,044 mt.
In the past week, overall trading activity has remained weak in the domestic stainless steel market, while upticks in prices of some products for which inventories are at low levels have been due to production restrictions, the impact of antidumping investigations and increases in upstream nickel prices However, the majority of traders kept most of their product prices stable as they wanted to conclude deals at the end of July. As for the coming week, it is believed that domestic stainless steel prices will again be mainly stable with some slightly upticks also.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,000 |
1,471 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
8,750 |
1,287 |
↑200 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
16,200 |
2,382 |
↑150 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
16,500 |
2,426 |
0 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,550 |
1,257 |
0 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,600 |
1,265 |
0 |
16 percent VAT is included in the above prices.
$1 = RMB 6.80