SteelOrbis has been informed that as of April 25 ex-China stainless steel coil export prices are at $2,700-2,750/mt FOB, edging down by $50/mt compared to April 18.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 300/mt ($43.6/mt).
During the given week, LME nickel prices indicated slight declines amid the prevailing bearish sentiments among market players. Metal prices in the international market have seen an overall downtrend, also negatively affecting nickel prices. At the same time, stainless steel futures prices in China have moved down amid the slack demand from downstream users. Moreover, market players have said demand is unlikely to improve ahead of the approaching Labor Day holiday (April 29-May 3). It is expected that stainless steel prices in the Chinese domestic market will likely edge down in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 15,040/mt ($2,186/mt) on Tuesday, April 25, moving down by RMB 365/mt ($53/mt) or 2.4 percent compared to that on April 18.
$1 = RMB 6.8847
