SteelOrbis has been informed that as of June 22 ex-China stainless steel coil export prices are at $2,850-2,900/mt FOB, moving sideways compared to June 15.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 200/mt ($31/mt).
Nickel prices at the London Metal Exchange (LME) have declined, weakening the support for stainless steel prices. There have been some supply shortages of stainless steel in the spot market, which has provided support for prices. Ferronickel has been in short supply, bolstering stainless steel prices.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,435/mt ($2,534/mt) on Tuesday, June 22, increasing by RMB 45/mt ($7/mt) or 0.27 percent compared to RMB 16,390/mt on June 15.
$1 = RMB 6.4857
