China’s domestic stainless steel prices have either moved down slightly or remained stable during the past seven days.
Global nickel prices have moved down by a small margin during the past week. On May 26, the three-month nickel price at the London Metal Exchange (LME) closed at $12,350/mt, while LME nickel inventory on the same date totaled 234,198 mt.
Overall trading activity in the domestic stainless steel market has been slack in the past week, while the weakness of upstream nickel prices have contributed to the decreases seen in stainless steel prices. The demand side is mostly maintaining a wait-and-see stance again as most prices have continued to soften. In addition, supply has increased slightly during the past week. As for the week ahead, it is believed that local stainless steel prices may indicate further small declines.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
11,350 |
1,597 |
0 |
-3 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
6,800 |
957 |
-50 |
-9 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,400 |
2,026 |
-50 |
-11 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,250 |
2,005 |
-100 |
-18 |
430/2B (3.0 x 1,219 x C) |
Taigang |
6,900 |
971 |
0 |
-2 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,200 |
1,013 |
0 |
-2 |
13 percent VAT is included in the above prices.
$1 = RMB 7.109
