China’s domestic stainless steel prices have either moved down slightly or trended sideways during the past seven days.
Global nickel prices have indicated an upward trend during the past week. On May 28, the three-month nickel price at the London Metal Exchange (LME) closed at $12,250/mt, while LME nickel inventory on the same date totaled 165,564 mt.
Overall trading activity in the domestic stainless steel market has been at low levels in the past week. Market inventories have increased, while many traders have chosen to reduce their prices slightly as the end of the month is approaching. As for the week ahead, it is believed that domestic stainless steel prices may just indicate minor fluctuations, supported by higher nickel prices and the start of the new month.
|
Specification (mm) |
Region |
Steel plant/origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
|
202/No.1 (3.0 x 120 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
10,300 |
1,491 |
0 |
|
201/No.1 (3.0 x 1,219 x C) |
Foshan/Lecong |
Guangzhou Lianzhong |
7,800 |
1,129 |
0 |
|
304/2B (1.0 x 1,219 x C) |
Wuxi |
Taigang |
14,900 |
2,156 |
↓50 |
|
304/No.1(3.0 x 1,219 x C) |
Wuxi |
Taigang |
14,850 |
2,149 |
↓50 |
|
430/2B (3.0 x 1,219 x C) |
Wuxi |
Taigang |
8,000 |
1,158 |
↓100 |
|
430/No.1(3.0 x 1,219 x C) |
Wuxi |
Krupp |
8,000 |
1,158 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 6.91