China's domestic stainless steel market has followed a slightly downward trend during the past week.
Global nickel prices have moved on a fluctuating trend during the past week, while prices are now slightly higher than last week. On July 21, the three-month nickel price at the London Metal Exchange (LME) closed at $11,675/mt, while LME nickel inventory on the same date totaled 453,582 mt.
In the Chinese domestic stainless market, prices have declined slightly since last week, while overall trading activity in the market is still sluggish. It is believed that local stainless steel prices will move sideways or fluctuate in a narrow range in the coming week.
Specification (mm) | Region | Steel plant/origin | Price (RMB/mt) | Price ($/mt) | Weekly change (RMB/mt) |
202/No.1 (3.0 x 120 x C) | Foshan | Guangzhou Lianzhong | 10,400 | 1,675 | ↓100 |
201/No.1 (3.0 x 1,219 x C) | Foshan | Guangzhou Lianzhong | 6,950 | 1,119 | ↓50 |
304/2B (1.0 x 1,219 x C) | Wuxi | Taigang | 13,500 | 2,174 | 0 |
304/No.1(3.0 x 1,219 x C) | Wuxi | Taigang | 12,950 | 2,085 | ↓50 |
430/2B (3.0 x 1,219 x C) | Wuxi | Taigang | 6,450 | 1,039 | ↓150 |
430/BA (1.0 x 1,219 x C) | Wuxi | Krupp | 5,700 | 918 | 0 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.21