China’s domestic stainless steel prices have moved sideways or up slightly during the past seven days, with the increases seen for 304 series products.
Global nickel prices have edged up by small margins during the past week. On July 1, the three-month nickel price at the London Metal Exchange (LME) closed at $15,190/mt, while LME nickel inventory on the same date totaled 203,886 mt.
Overall trading activity in the domestic stainless steel market has been slack during the past week due to the off-season and hot weather, while increases in nickel prices have caused prices of 304 series products to move up slightly. As for the week ahead, it is believed that stainless steel prices will just indicate small fluctuations.
| Spec. - Grade (mm) | Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
| 202/No.1 (3.0 x 1,500 x C) | Guangzhou Lianzhong |
12,350 |
1,726 |
0 | +3 |
| 201/No.1 (3.0 x 1,219 x C) | Guangzhou Lianzhong |
7,000 |
978 |
0 | +2 |
| 304/2B (1.0 x 1,219 x C) | Taigang |
13,500 |
1,887 |
+100 | +17 |
| 304/No.1 (3.0 x 1,219 x C) | Taigang |
12,600 |
1,761 |
+100 | +17 |
| 430/2B (3.0 x 1,219 x C) | Taigang |
7,050 |
985 |
0 | +2 |
| 430/No.1 (3.0 x 1,500 x C) | Taigang |
6,600 |
922 |
0 | +1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.156
