China’s domestic stainless steel prices have moved sideways or down by small margins during the past week.
Global nickel prices have indicated small fluctuations during the past week. On May 7, the three-month nickel price at the London Metal Exchange (LME) closed at $19,100/mt, while LME nickel inventory on the same date totaled 79,896 mt.
Overall trading activity in the domestic stainless steel market has been at a low level influenced by the recent holiday period, while some prices have softened due to the declines seen in stainless steel futures prices. However, many traders have kept their prices stable since the support from the cost side is still strong. As for the week ahead, since demand may see a recovery, it is believed that stainless steel prices may indicate minor fluctuations, with a minor rebound possible.
|
Spec. - Grade (mm) |
Origin |
Price |
Weekly change |
||
|
(RMB/mt) |
($/mt) |
(RMB/mt) |
($/mt) |
||
|
202/No.1 (3.0 x 1,500 x C) |
Guangzhou Lianzhong |
12,800 |
1,802 |
0 |
1 |
|
201/No.1 (3.0 x 1,219 x C) |
Guangzhou Lianzhong |
8,500 |
1,197 |
0 |
1 |
|
304/2B (1.0 x 1,219 x C) |
Taigang |
14,600 |
2,056 |
-150 |
-20 |
|
304/No.1 (3.0 x 1,219 x C) |
Taigang |
14,000 |
1,971 |
0 |
1 |
|
430/2B (3.0 x 1,219 x C) |
Taigang |
8,100 |
1,141 |
-50 |
-7 |
|
430/No.1 (3.0 x 1,500 x C) |
Taigang |
7,300 |
1,028 |
0 |
0 |
13 percent VAT is included in the above prices.
$1 = RMB 7.102