China’s domestic stainless steel prices have been mostly stable during the past seven days, with slight increases also seen.
Global nickel prices have softened a little during the past week. On July 29, the three-month nickel price at the London Metal Exchange (LME) closed at $15,325/mt, while LME nickel inventory on the same date totaled 204,912 mt.
Overall trading activity in the domestic stainless steel market has been sluggish during the past week due to the off-season. The downticks recorded lately in nickel prices have caused most stainless steel traders to keep their quoted prices stable. As for the week ahead, it is believed that stainless steel prices may indicate small fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,300 |
1,722 |
0 |
-1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,300 |
1,022 |
+50 |
+7 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,700 |
1,918 |
0 |
-1 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
13,100 |
1,834 |
+250 |
+34 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,200 |
1,008 |
0 |
0 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,600 |
924 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.144