China’s domestic stainless steel prices have mainly continued a slightly soft trend during the past seven days.
Global nickel prices have moved up by small margins during the past week. On June 3, the three-month nickel price at the London Metal Exchange (LME) closed at $15,475/mt, while LME nickel inventory on the same date totaled 201,462 mt.
Overall trading activity in the domestic stainless steel market has been sluggish during the past week due to the hot and rainy weather. Most traders have chosen to slightly reduce their quoted prices in order to close more deals. As for the week ahead, it is believed that stainless steel prices may continue to indicate small downward adjustments.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,500 | 1,739 | 0 | 0 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 7,300 | 1,015 | 0 | 0 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 13,750 | 1,913 | -100 | -14 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 13,200 | 1,836 | -50 | -7 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,300 | 1,015 | -50 | -7 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,700 | 932 | -50 | -7 |
13 percent VAT is included in the above prices.
$1 = RMB 7.189
