SteelOrbis has been informed that as of November 5 Chinese stainless steel coil export prices are standing at $2,100-2,150/mt FOB, stable week on week.
During the given week, Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd announced unchanged ex-works prices stable stainless steel.
The LME (London Metal Exchange) nickel prices have decreased in the given week, weakening the support for the Chinese stainless steel market.
Though the ban on nickel ore export by Indonesia negatively have affected the country’s exports of nickel ore, this has not yet provided support for Chinese domestic stainless steel prices.
Stainless steel futures at the Shanghai Future Exchange have closed at RMB 14,910/mt ($2,124.0/mt) on Tuesday, November 5, down RMB 115/mt ($16.4/mt) compared to RMB 15,025/mt on October 29.
