SteelOrbis has been informed that as of April 14 ex-China stainless steel coil export prices are at $1,750-1,800/mt FOB, moving sideways compared to April 7.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have remained stable, bolstering stainless steel export prices.
Nickel prices at the London Metal Exchange (LME) have rebounded over the past week due to the rises seen in other commodity prices and better sentiments among market players.
During the given week, oversupply has still existed in the local stainless steel market, exerting a negative impact on prices. Meanwhile, the EU has decided to impose a six-month antidumping duty on Chinese hot rolled stainless steel, with a duty rate of 14.5-18.9 percent, which will negatively affect China’s stainless steel exports.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 12,805/mt ($1,818.6/mt) on Tuesday, April 14, increasing by RMB 755/mt ($107/mt) or 6.3 percent compared to RMB 12,050/mt on April 7.
$1 = RMB 7.0406
