China’s domestic stainless steel prices have either moved sideways or down slightly during the past seven days.
Global nickel prices have softened during the past week. On June 9, the three-month nickel price at the London Metal Exchange (LME) closed at $17,995/mt, while LME nickel inventory on the same date totaled 274,848 mt.
Overall trading activity in the domestic stainless steel market has been at normal levels in the past week, while some prices have softened slightly due to the downticks seen in nickel prices. Demand has slackened a little due to the off-season for business. As for the week ahead, it is believed that stainless steel prices may follow a slightly soft trend.
| Spec. - Grade (mm) | Origin | Price | Weekly change | ||
| (RMB/mt) | ($/mt) | (RMB/mt) | ($/mt) | ||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong | 12,450 | 1,827 | 0 | 1 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong | 8,400 | 1,233 | -50 | -6 |
| 304/2B (1.0 x 1,219 x C) | Taigang | 16,000 | 2,348 | 0 | 2 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang | 15,050 | 2,209 | -150 | -20 |
| 430/2B (3.0 x 1,219 x C) | Taigang | 7,650 | 1,123 | 0 | 1 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang | 6,900 | 1,013 | 0 | 1 |
13 percent VAT is included in the above prices.
$1 = RMB 6.813
