SteelOrbis has been informed that as of January 14 ex-China stainless steel coil export prices are at $2,000-2,050/mt FOB, remaining stable compared to January 7.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
Nickel prices at the London Metal Exchange (LME) have fluctuated within a limited range amid slack demand ahead of the Chinese New Year holiday.
As most suppliers and buyers will leave the market by the end of this week, demand for stainless steel will continue to be stagnant.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,840/mt ($2,007.1/mt) on Tuesday, January 14, decreasing by RMB 90/mt ($13.0/mt) or 0.65 percent compared to RMB 13,930/mt on January 7.
$1 = RMB 6.8954
