SteelOrbis has been informed that as of August 13 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to August 6.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 100/mt ($14/mt).
During the given week, nickel prices have moved down, though inventory has been at relatively high levels, so prices will likely fluctuate within a limited range in the coming period. Stainless steel futures prices have moved down, exerting a negative impact on market sentiments. At the same time, traders have reduced their offer prices, aiming to stimulate transaction activities. Export volumes of 304 series stainless steel have risen, which may bolster the market. It is thought that stainless steel prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,675/mt ($1,913/mt) on Tuesday, August 13, decreasing by RMB 225/mt ($31.5/mt) or 1.6 percent compared to August 6, while down 0.58 percent compared to the previous trading day, August 12.
$1 = RMB 7.1479
