SteelOrbis has been informed that as of February 15 ex-China stainless steel coil export prices are at $3,250-3,350/mt FOB, moving up by $50/mt compared to February 8.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have edged down by RMB 200/mt ($31.4/mt).
Nickel prices at the London Metal Exchange (LME) have softened slightly. Stainless steel futures prices have indicated an increasing trend. Since traders had not built up sufficient stocks ahead of the Chinese New Year holiday, they have been seeking to conclude purchases after the holiday. It is thought that stainless steel prices may increase in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 18,795/mt ($2,955/mt) on Tuesday, February 15, rising by RMB 690/mt ($108.5/mt) or 3.8 percent compared to RMB 18,105/mt on February 8.
$1 = RMB 6.3605
