China’s domestic stainless steel prices have followed a stable trend during the past seven days.
Global nickel prices have edged up slightly during the past week. On June 2, the three-month nickel price at the London Metal Exchange (LME) closed at $19,215/mt, while LME nickel inventory on the same date totaled 275,340 mt.
Overall trading activity in the domestic stainless steel market has slackened a little in the past week amid the hot summer weather and is currently considered to be at normal levels, while prices have remained stable, supported by upticks in nickel prices. As for the week ahead, considering that the off-season is approaching but support from the cost side is still strong, it is believed that stainless steel prices may just indicate small fluctuations.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,450 | 1,826 | 0 | 3 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,450 | 1,239 | 0 | 2 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 16,000 | 2,347 | 0 | 4 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 15,200 | 2,229 | 0 | 4 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,650 | 1,122 | 0 | 2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,900 | 1,012 | 0 | 2 |
13 percent VAT is included in the above prices.
$1 = RMB 6.818
