SteelOrbis has been informed that as of December 24 ex-China stainless steel coil export prices are at $2,000-2,050/mt FOB, moving sideways compared to December 17.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 150/mt ($21.4/mt) compared to the previous week.
Nickel prices at the London Metal Exchange (LME) have continued their rising trend in the past week, exerting a positive impact on the local Chinese stainless steel market.
Cautious sentiment has prevailed among participants in the stainless steel market due to the approaching New Year and Chinese New Year holidays.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,310/mt ($2,040.8/mt) on Tuesday, December 24, increasing by RMB 10/mt ($1.4/mt) or 0.07 percent compared to RMB 14,300/mt on December 17.
$1 = RMB 7.0119