China’s domestic stainless steel prices have mostly followed a stable trend in the past seven days, with some slight upticks also seen.
Global nickel prices have continued to rise during the past week. On July 14, the three-month nickel price at the London Metal Exchange (LME) closed at $13,600/mt, while LME nickel inventory on the same date totaled 234,192 mt.
Although domestic stainless steel prices have mostly moved sideways, some prices have risen slightly due to low supply volumes and inventory and also supported by higher nickel prices. Overall trading activity has been at normal levels. As for the week ahead, considering the low supply volumes and the support from the upstream side, it is believed that stainless steel prices in China may indicate some upticks.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,000 |
1,572 |
0 |
5 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,700 |
957 |
0 |
3 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,072 |
100 |
21 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,300 |
2,043 |
0 |
7 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,350 |
1,050 |
0 |
3 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,029 |
0 |
3 |
13 percent VAT is included in the above prices.
$1 = RMB 6.998
