SteelOrbis has been informed that as of April 6 ex-China stainless steel coil export prices are at $2,350-2,400/mt FOB, moving sideways compared to March 30.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have remained stable.
Nickel prices at the London Metal Exchange (LME) have fluctuated within a limited range at low levels in the given week.
During the given week, stainless steel producers have received sufficient orders for April delivery, exerting a positive impact on market sentiments. Nickel ore prices may edge down due to the expected increase in supply due to the end of the rainy season in the Philippines.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,310/mt ($2,184/mt) on Tuesday, April 6, decreasing by RMB 385/mt ($59/mt) or 2.6 percent compared to RMB 14,695/mt on March 30.
$1 = RMB 6.5527
