SteelOrbis has been informed that as of August 9 ex-China stainless steel coil export prices are at $2,900-2,950/mt FOB, remaining stable compared to August 9.
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 up. Meanwhile, stainless steel futures prices at Shanghai Futures Exchange (SHFE) have edged down slightly. Stainless steel supplies have been at sufficient levels, weakening the support for prices. It is thought that stainless steel prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 15,575/mt ($2,311/mt) on Tuesday, August 16, moving down by RMB 5/mt ($0.74/mt) or 0.03 percent compared to that on August 9.
$1 = RMB 6.741