China’s domestic stainless steel prices have mostly followed a slight uptrend mostly during the past week.
Global nickel prices have rebounded a little during the past week. On July 9, the three-month nickel price at the London Metal Exchange (LME) closed at $17,140/mt, while LME nickel inventory on the same date totaled 97,872 mt.
Overall trading activity in the domestic stainless steel market has been sluggish during the past week, while most prices have risen slightly, supported by some small decreases in production and inventories, and upticks in prices of nickel and stainless steel futures. As for the week ahead, it is believed that stainless steel prices may just indicate minor fluctuations against the backdrop of the ongoing off-season.
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,794 |
0 |
-1 |
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,550 |
1,198 |
50 |
7 |
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,047 |
100 |
13 |
304/No.1 (3.0 x 1,219 x C) |
Taigang |
13,950 |
1,955 |
100 |
13 |
430/2B (3.0 x 1,219 x C) |
Taigang |
8,000 |
1,121 |
0 |
0 |
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,023 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.134