In the past seven days, Chinese domestic stainless steel prices have indicated a mostly stable trend, with some slight upticks seen also.
Global nickel prices have fluctuated in an upward direction during the past week. On July 28, the three-month nickel price at the London Metal Exchange (LME) closed at $13,700/mt, while LME nickel inventory on the same date totaled 234,852 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week. Amid upticks in nickel prices and low market inventory, stainless steel producers do not want to reduce their quoted prices. Traders have mostly not wanted to increase their stainless steel quotations significantly due to the approach of the end of the month. As for the week ahead, since demand is still at normal levels, it is believed that the Chinese stainless steel market may continue its mostly stable trend, with some small increases also possible.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,000 |
1,572 |
0 |
-6 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,700 |
958 |
0 |
-3 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,087 |
100 |
7 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,300 |
2,044 |
0 |
-7 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,400 |
1,058 |
50 |
3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,043 |
0 |
-4 |
13 percent VAT is included in the above prices.
$1 = RMB 6.997
