SteelOrbis has been informed that as of July 2 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to June 25.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 50/mt ($7/mt).
During the given week, nickel prices have indicated a rising trend. Stainless steel prices have fluctuated within a limited range. Raw material prices have bolstered stainless steel prices to a certain degree. However, the recent hot weather and heavy rainfall in China have exerted a negative impact on the demand for stainless steel. It is thought that stainless steel prices in the Chinese domestic market will likely move sideways in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,145/mt ($1,984/mt) on Tuesday, July 2, increasing by RMB 225/mt ($31.6/mt) or 1.6 percent compared to June 25, while up 0.53 percent compared to the previous trading day, July 1.
$1 = RMB 7.1291
