China’s domestic stainless steel prices have risen slightly during the past seven days, rising by a smaller margin compared to the previous week.
Global nickel prices have increased during the past week. On August 3, the three-month nickel price at the London Metal Exchange (LME) closed at $19,405/mt, while LME nickel inventory on the same date totaled 211,068mt.
Overall trading activity for stainless steel has been weak due to the off-season and bad weather conditions. Supply volumes have recently declined due to production restrictions and the lack of raw material. As for the week ahead, considering the support from the cost side and reduced supply volumes, it is believed that stainless steel prices in China may continue to edge up.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
15,300 |
2,366 |
400 |
71 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
10,450 |
1,616 |
400 |
68 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
21,900 |
3,387 |
200 |
45 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
21,200 |
3,279 |
400 |
75 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
11,500 |
1,779 |
300 |
54 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
10,000 |
1,547 |
0 |
6 |
13 percent VAT is included in the above prices.
$1 = RMB 6.466