SteelOrbis has been informed that as of June 20 ex-China stainless steel coil export prices are at $2,550-2,600/mt FOB, moving sideways compared to June 13.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 75/mt ($10.5/mt).
During the given week, LME nickel prices have indicated slight rises. In the Chinese domestic market, demand for stainless steel has been slack amid the widespread rainy weather. Meanwhile, cautious sentiments have prevailed among market players in the stainless steel market. At the same time, the declining trend of stainless steel futures prices has exerted a negative impact on prices in the spot market. It is expected that stainless steel prices in the Chinese domestic market may edge down slightly in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,785/mt ($2,065/mt) on Tuesday, June 20, moving down by RMB 415/mt ($58/mt) or 2.7 percent compared to that on June 13.
$1 = RMB 7.1596