SteelOrbis has been informed that as of January 27 ex-China stainless steel coil (304 standard, 1 mm thickness) export prices are at $2,350-2,400/mt FOB, rising by $50/mt on average compared to January 20.
During the given period, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have risen by RMB 300/mt ($43/mt).
On January 26, Indonesia's Tsingshan raised its export quotations again, with its export quotation for 304 CRC stainless steel coil (2 mm) rising by $30/mt to $1,995/mt FOB. This marks the fourth consecutive price increase in January 2026, with a cumulative increase of $180/mt within one month.
During the given week, LME nickel prices have moved up further amid the increasing trend of commodity prices. The production disruptions in Indonesia have bolstered nickel prices, while high inventories in the traditional offseason have weakened the support for prices. Although the Chinese New Year holiday (February 14-23) is approaching, downstream users of stainless steel have been unwilling to build up stocks, exerting a negative impact on prices. It is expected that the rising trend of stainless steel prices in the Chinese domestic market will come to an end in the week ahead.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,540/mt ($2,080/mt) on Tuesday, January 27, increasing by RMB 195/mt ($28/mt) or 1.36 percent compared to January 20, while decreasing by 1.26 percent compared to the previous trading day, January 26. The week-on-week rise in the futures price indicated a slowdown compared to the four percent surge a week earlier.
$1 = RMB 6.9858