SteelOrbis has been informed that as of June 25 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, moving sideways compared to June 18.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 50/mt ($7/mt).
During the given week, nickel prices have indicated a decreasing trend. Most stainless steel producers have kept their prices stable for delivery in July. In order to attract orders, traders stated that they were willing to negotiate on prices. Prices of raw materials, including ferromolybdenum and stainless steel scrap, have indicated slight declines, weakening the support for stainless steel prices. Heavy rainfalls have caused flood in many regions of China, exerting a negative impact on the demand for stainless steel. It is expected that stainless steel prices in the Chinese domestic market will edge down in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,920/mt ($1,954/mt) on Tuesday, June 25, increasing by RMB 95/mt ($13/mt) or 0.7 percent compared to that on June 18, while up 0.36 percent compared to the previous trading day, June 24.
$1 = RMB 7.1225
