SteelOrbis has been informed that as of January 18 ex-China stainless steel coil export prices are at $3,100-3,200/mt FOB, up $50/mt compared to January 11.
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 ($31.5/mt).
Nickel prices at the London Metal Exchange (LME) have edged up, while stainless steel futures prices have also indicated increases. Stainless steel producers will likely implement maintenance works as the Chinese New Year is approaching, while demand will also slacken. It is thought that stainless steel prices may fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 17,970/mt ($2,830/mt) on Tuesday, January 18, increasing by RMB 210/mt ($33.1/mt) or 1.2 percent compared to RMB 17,760/mt on January 11.
$1 = RMB 6.3521
