SteelOrbis has been informed that as of June 15 ex-China stainless steel coil export prices are at $2,850-2,900/mt FOB, moving up by $100/mt compared to June 8.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 775/mt ($121/mt).
Nickel prices at the London Metal Exchange (LME) have edged up in the week in question.
In the past week, stainless steel futures prices in China have indicated an uptrend, exerting a positive impact on stainless steel prices in the spot market. Meanwhile, supply of stainless steel has been tight, also bolstering prices.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,390/mt ($2,561/mt) on Tuesday, June 15, increasing by RMB 930/mt ($145/mt) or 6.01 percent compared to RMB 15,460/mt on June 8.
$1 = RMB 6.407
