SteelOrbis has been informed that as of July 4 ex-China stainless steel coil export prices are at $2,500-2,550/mt FOB, moving sideways compared to June 27.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have risen by RMB 100/mt ($14/mt).
During the given week, LME nickel prices have fluctuated within a limited range. Demand for stainless steel has been slack, negatively affecting prices. At the same time, stainless steel futures prices have moved down, exerting a negative impact on its stainless steel spot prices. However, stainless steel producers want to bolster their prices. It is thought that stainless steel prices in the Chinese domestic market may move sideways in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,700/mt ($2,042/mt) on Tuesday, July 4, edging down by RMB 50/mt ($7/mt) or 0.34 percent compared to that on June 27.
$1 = RMB 7.2046