SteelOrbis has been informed that ex-China stainless steel coil export prices are at $2,100-2,150/mt FOB as of October 8, stable compared to September 24.
After the long National Day holiday, traders have started giving export offer prices, though the market is very quiet. Stainless steel futures prices at the Shanghai Futures Exchange have increased by RMB 100/mt ($14.0/mt) compared to the opening price on September 25 - the first trading day - reaching RMB 15,675/mt ($2,216.2/mt) on Tuesday, October 8.
Exports of nickel ore from the Philippines and Indonesia have been restricted, causing Chinese nickel suppliers to increase their sales prices, which will push up the production cost of stainless steel and provide support for stainless steel prices.