China’s domestic stainless steel prices have softened during the past seven days.
Global nickel price has showed a fluctuation downward trend during the past week. On May 16, the three-month nickel price at the London Metal Exchange (LME) closed at $21,005/mt, while LME nickel inventory on the same date totaled 39,294 mt.
Overall trading activity in the domestic stainless steel has improved a little but is still considered to be weak, while prices have softened amid lower stainless steel futures and nickel prices. Market inventory and production have both declined. As for the week ahead, considering demand is still weak, it is believed that stainless steel prices may continue to indicate some decreases.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
13,100 |
1,878 |
0 |
-12 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,800 |
1,262 |
0 |
-8 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
15,850 |
2,272 |
-400 |
-72 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
15,650 |
2,244 |
-300 |
-58 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
7,700 |
1,104 |
0 |
-7 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,500 |
1,075 |
-200 |
-36 |
13 percent VAT is included in the above prices.
$1 = RMB 6.975