China’s domestic stainless steel prices have indicated minor fluctuations during the past week.
Global nickel prices have moved up during the past week. On August 6, the three-month nickel price at the London Metal Exchange (LME) closed at $16,445/mt, while LME nickel inventory on the same date totaled 110,106 mt.
Overall trading activity in the domestic stainless steel market has remained sluggish, while the rebound in nickel prices has provided some support for stainless steel prices, though the weakness of demand has limited any price increases. Supply volumes are reduced but market inventory has remained at high levels. As for the week ahead, it is believed that stainless steel prices may continue to indicate minor fluctuations.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,793 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,400 |
1,177 |
0 |
-1 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,045 |
50 |
6 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,900 |
1,947 |
-50 |
-8 |
430/2B (3.0 x 1,219 x C) |
Taigang |
7,850 |
1,100 |
0 |
-1 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,023 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.139