China’s domestic stainless steel prices have softened by small margins during the past week.
Global nickel prices have indicated minor declines during the past week. On August 1, the three-month nickel price at the London Metal Exchange (LME) closed at $22,235/mt, while LME nickel inventory on the same date totaled 37,512mt.
Overall trading activity in the domestic stainless steel market is again weak, causing most traders to reduce their quoted prices, also due to softer nickel prices. Supply is at normal levels and traders have mostly been willing to offer certain discounts in order to close more deals. As for the week ahead, it is believed that stainless steel prices may continue to move down by small margins.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,900 |
1,807 |
0 |
-2 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,550 |
1,198 |
0 |
-1 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,850 |
2,221 |
-150 |
-23 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,500 |
2,172 |
0 |
-2 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,135 |
50 |
6 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,023 |
-100 |
-15 |
13 percent VAT is included in the above prices.
$1 = RMB 7.137