SteelOrbis has been informed that as of January 2 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to December 26.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
During the given week, nickel prices have indicated slight rises. Stainless steel futures prices in the Chinese domestic market have declined compared to the previous week, though indicating a slight rise of 0.04 percent on the first trading day of 2024. Cautious sentiments have prevailed among market players, while some buyers have started to look for opportunities to build up stocks ahead of the Chinese New Year holiday. It is expected that stainless steel prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,830/mt ($1,954/mt) on Tuesday, January 2, decreasing by RMB 140/mt ($19.8/mt) or 1.0 percent compared to December 26.
$1 = RMB 7.077