SteelOrbis has been informed that as of July 9 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, moving sideways compared to July 2.
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 edged down slightly. Stainless steel prices in the Chinese domestic market have remained stable amid the slack demand from downstream users. Cautious sentiments have prevailed among market players, affecting stainless steel prices. It is thought that stainless steel prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,010/mt ($1,965/mt) on Tuesday, July 9, decreasing by RMB 135/mt ($19/mt) or 0.95 percent compared to July 2, while down 1.65 percent compared to the previous trading day, July 8.
$1 = RMB 7.131