Ex-China stainless steel prices move up

Tuesday, 13 July 2021 15:25:07 (GMT+3)   |   Shanghai
       

SteelOrbis has been informed that as of July 13 ex-China stainless steel coil export prices are at $3,000-3,050/mt FOB, moving up by $100/mt compared to July 6.

During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 400/mt ($62/mt).

Nickel prices at the London Metal Exchange (LME) have increased, providing support for stainless steel prices. The continuous increases in stainless steel futures prices have bolstered market players’ bullish sentiments and so they have preferred to hold on to their stocks and are unwilling to sell. At the same time, China’s central bank will decrease the required reserve ratio as of July 15, exerting a positive impact on the stainless steel market. It is thought that stainless steel prices may edge up further in the coming week.

Stainless steel futures at the Shanghai Future Exchange closed at RMB 17,400/mt ($2,613/mt) on Tuesday, July 13, increasing by RMB 520/mt ($80.3/mt) or 3.1 percent compared to RMB 16,880/mt on July 6.

$1 = RMB 6.4757


Similar articles

Flat steel prices in local Taiwanese market - week 13, 2024

28 Mar | Flats and Slab

Local Chinese stainless steel prices mostly decrease

28 Mar | Flats and Slab

Ex-China stainless steel prices edge down

26 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 12, 2024

21 Mar | Flats and Slab

Local Chinese stainless steel prices move down slightly

20 Mar | Flats and Slab

Ex-China stainless steel prices move sideways

19 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 11, 2024

14 Mar | Flats and Slab

Local Chinese stainless steel prices mostly move down slightly

13 Mar | Flats and Slab

Flat steel prices in local Taiwanese market - week 10, 2024

07 Mar | Flats and Slab

Local Chinese stainless steel prices mostly stable, some slight downticks also

07 Mar | Flats and Slab