SteelOrbis has been informed that as of July 19 ex-China stainless steel coil export prices are at $2,900-2,950/mt FOB, edging down by $50/mt compared to July 12.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved down by RMB 250/mt ($37/mt).
Nickel prices at the London Metal Exchange (LME) mostly moved down during the past week, though indicating a rebound over the past few trading days. However, demand for stainless steel from downstream users has remained slack, exerting a negative impact on prices. Meanwhile, stainless steel futures prices have edged down, also negatively affecting prices. It is thought that stainless steel prices in the Chinese domestic market will likely edge down in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,290/mt ($2,413/mt) on Tuesday, July 19, moving down by RMB 365/mt ($54.1/mt) or 2.2 percent compared to that on July 12.
$1 = RMB 6.7451
