Local Chinese stainless steel prices remain stable or fluctuate slightly

Wednesday, 26 June 2019 16:54:14 (GMT+3)   |   Shanghai
       

China’s domestic stainless steel prices have remained stable or fluctuated slightly during the past seven days.

Global nickel price have fluctuated in an upward direction during the past week. On June 25, the three-month nickel price at the London Metal Exchange (LME) closed at $12,300/mt, while LME nickel inventory on the same date totaled 168,252 mt.

Prices of 304 series stainless products have been mainly stable in the past week, though with some slight upticks also seen due to support from higher nickel prices and an improvement in the trade volume. On the other hand, prices of 400 series products have softened slightly amid low demand and high inventories. Traders are mostly focusing on sales at the end of the month. As for the week ahead, it is believed that domestic stainless steel prices may just indicate slight fluctuations.

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

1,497

0

201/No.1 (3.0 x 1,219 x C)

Foshan/Lecong

Guangzhou Lianzhong

7,800

1,134

0

304/2B (1.0 x 1,219 x C)

Wuxi

Taigang

14,900

2,166

0

304/No.1(3.0 x 1,219 x C)

Wuxi

Taigang

14,900

2,166

↑50

430/2B (3.0 x 1,219 x C)

Wuxi

Taigang

7,850

1,141

↓150

430/No.1(3.0 x 1,219 x C)

Wuxi

Krupp

7,900

1,148

↓100

 

13 percent VAT is included in the above prices.

$1 = RMB 6.88


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