SteelOrbis has been informed that as of April 20 ex-China stainless steel coil export prices are at $2,350-2,400/mt FOB, moving sideways compared to April 13.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have declined by RMB 250/mt ($38.4/mt).
Nickel prices at the London Metal Exchange (LME) have fluctuated within a limited range at bottom levels in the given week.
During the week in question, stainless steel futures prices have moved down, exerting a negative impact on prices in the spot market. The supply of nickel ore will regain normal levels with the end of the rainy season in the Philippines, which will drag down the production costs of stainless steel and weaken support for stainless steel prices.
Stainless steel futures at the Shanghai Futures Exchange closed at RMB 13,955/mt ($2,143.5/mt) on Tuesday, April 20, decreasing by RMB 10/mt ($1.54/mt) or 0.07 percent compared to RMB 13,965/mt on April 13.
$1 = RMB 6.5103
