SteelOrbis has been informed that as of February 20 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining unchanged compared to February 6.
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 increased. Following the long Chinese New Year holiday, transaction activities in the stainless steel market have improved gradually. However, stainless steel futures prices have edged down compared to the pre-holiday level. Market players are waiting for a slow improvement in transaction activities, though more time may be needed to resume production activities. 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 13,710/mt ($1,931/mt) on Tuesday, February 20, decreasing by RMB 95/mt ($13.4/mt) or 0.7 percent compared to February 6.
$1 = RMB 7.1068