SteelOrbis has been informed that as of July 26, ex-China stainless steel coil prices are at $2,900-2,950/mt FOB, moving sideways compared to July 19.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have rose by $150/mt ($22.2/mt).
Nickel prices at the London Metal Exchange (LME) have edged up amid the improved demand from users during the past week. However, stainless steel futures prices at Shanghai Futures Exchange (SHFE) have edged down slightly as demand hasn’t seen improvements. Meanwhile, cautious sentiments have prevailed among market players. It is thought that stainless steel prices may fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,200/mt ($2,400/mt) on Tuesday, July 26, moving down by RMB 90/mt ($13.3/mt) or 0.55 percent compared to that on July 19.
$1 = RMB 6.7483