China's domestic stainless steel prices have followed a mostly stable during the past seven days, with some very slight upticks seen also.
Global nickel prices have edged up during the past week. On July 21, the three-month nickel price at the London Metal Exchange (LME) closed at $17,100/mt, while LME nickel inventory on the same date totaled 272,040 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish, while prices have mainly remained stable, supported by upticks in nickel prices. Meanwhile, production volumes as well as market inventories have remained at low levels, also providing support for prices. As for the week ahead, it is believed that stainless steel prices may fluctuate by small margins.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,400 | 1,825 | 0 | -1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,300 | 1,222 | 0 | 0 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 15,600 | 2,296 | 0 | -1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 14,800 | 2,179 | 0 | -1 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,600 | 1,119 | 0 | 0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,950 | 1,023 | 50 | 7 |
13 percent VAT is included in the above prices.
$1 = RMB 6.793
