SteelOrbis has been informed that as of July 12 ex-China stainless steel coil export prices are at $2,950-3,000/mt FOB, remaining stable compared to July 5.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
Nickel prices at the London Metal Exchange (LME) have edged down slightly. Some traders have started to build up stocks as transaction activities for stainless steel have improved to a certain degree. Moreover, inventories of stainless steel have been at relatively low levels, bolstering prices. 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 16,655/mt ($2,475/mt) on Tuesday, July 12, edging up by RMB 35/mt ($28.4/mt) or 0.2 percent compared to that on July 5.
$1 = RMB 6.7246
