SteelOrbis has been informed that as of June 13, ex-China stainless steel coil export prices are at $2,550-2,600/mt FOB, remaining stable compared to June 6.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 100/mt ($14/mt).
During the given week, LME nickel prices edged up slightly amid the weakening US dollar index. Currently, demand for stainless steel from downstream users has been slack, while traders concluded some purchases amid the stimulus of increasing prices. The inventory level of stainless steel has been at relatively low level, which might bolster its prices in the near future. It is thought that stainless steel prices in the Chinese domestic market will likely continue the uptrend within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 15,200/mt ($2,126/mt) on Tuesday, June 13, moving up by RMB 65/mt ($9.1/mt) or 0.43 percent compared to that on June 6.
$1 = RMB 7.1498