SteelOrbis has been informed that as of July 15, ex-China stainless steel coil export prices are at $2,100-2,150/mt FOB, remaining stable compared to July 8.
During the given period, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd. have increased by RMB 50/mt ($7/mt).
Nickel prices have edged down slightly. Stainless steel futures prices at the Shanghai Futures Exchange (SHFE) have seen slight declines, affecting their prices in the spot market. China’s Ministry of Commerce announced on July 1 that it would continue to impose anti-dumping tariffs on stainless steel semi-finished products and hot-rolled coil from the EU, the UK, South Korea, and Indonesia, effective for five years, which eased the tensions in the domestic market. It is expected that stainless steel prices in the Chinese domestic market will move sideways in the coming week.
Stainless steel futures at the Shanghai Futures Exchange closed at RMB 12,695/mt ($1,775.5/mt) on Tuesday, July 15, decreasing by RMB 5/mt ($0.7/mt) or 0.04 percent compared to July 8, while increasing by 0.08 percent compared to the previous trading day, July 14.
$1 = RMB 7.1498
