China’s domestic stainless steel prices have moved down by small margins during the past seven days.
Global nickel prices have indicated small decreases during the past week. On July 2, the three-month nickel price at the London Metal Exchange (LME) closed at $17,075/mt, while LME nickel inventory on the same date totaled 95,502 mt.
Overall trading activity in the domestic stainless steel market has been slack, while most traders have been pessimistic due to the ongoing weakness of demand and have been willing to reduce their quoted prices slightly. Cost-side support is still weak, also exerting negative pressure on stainless steel prices. As for the week ahead, considering the weakness of demand, it is believed that stainless steel prices may indicate further slight decreases.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,795 |
0 |
-2 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,500 |
1,192 |
-50 |
-8 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,500 |
2,033 |
-50 |
-9 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,850 |
1,942 |
0 |
-2 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,000 |
1,122 |
-50 |
-8 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,024 |
0 |
-1 |
13 percent VAT is included in the above prices.
$1 = RMB 7.131