SteelOrbis has been informed that as of December 14 ex-China stainless steel coil export prices are at $3,050-3,150/mt FOB, moving down by $100/mt compared to December 7.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have declined by RMB 850/mt ($133.5/mt).
Nickel prices at the London Metal Exchange (LME) have edged down. The demand from the home appliance industry has been slack, exerting a negative impact on stainless steel prices. Moreover, stainless steel futures prices have indicated big decreases, negatively affecting prices in the spot market.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,025/mt ($2,517/mt) on Tuesday, December 14, decreasing by RMB 635/mt ($99.7/mt) or 3.8 percent compared to RMB 16,660/mt on December 7.
$1 = RMB 6.3675
