SteelOrbis has been informed that as of April 9, ex-China stainless steel coil export prices are at $2,300-2,350/mt FOB, moving up by $50/mt compared to April 2.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have risen by RMB 200/mt ($28/mt).
During the given week, nickel prices edged up amid the prevailing bullish sentiments. Following the Tomb Sweeping Day, stainless steel futures prices have seen a rising trend, exerting a positive impact on its prices in spot market. Inventory has been consumed in the stainless steel market. It is thought that stainless steel prices in the Chinese domestic market will edge up in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,740/mt ($1,935/mt) on Tuesday, April 9, increasing by RMB 285/mt ($40.1/mt) or 2.1 percent compared to that on April 2.
$1 = RMB 7.0956
