China’s domestic stainless steel prices have followed a mostly stable during the past seven days, with slight reductions also seen.
Global nickel prices have followed a downward trend during the past week. On June 23, the three-month nickel price at the London Metal Exchange (LME) closed at $17,230/mt, while LME nickel inventory on the same date totaled 276,138 mt.
Overall trading activity in the Chinese domestic steel scrap market has been at sluggish during the past week. Prices have mostly remained stable, supported by lower production volumes and decreases in inventories, though some prices have softened slightly amid weaker support from nickel prices and raw materials. As for the week ahead, it is believed that stainless steel prices may fluctuate by slight margins, with some small reductions possible since the support from the cost side is getting weaker.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,818 | -50 | -10 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,350 | 1,224 | -50 | -9 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 16,000 | 2,346 | 0 | -3 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 15,200 | 2,229 | 0 | -3 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,650 | 1,122 | 0 | -2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,900 | 1,012 | 0 | -1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.820
