SteelOrbis has been informed that as of March 22, ex-China stainless steel coil export prices are at $3,400-3,450/mt FOB, moving sideways compared to March 15.
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 been more reasonable following their previous sharp declines. Stainless steel futures prices at Shanghai Futures Exchange have indicated a fluctuating trend within a limited range. Recently, the worsening of the Covid-19 pandemic in China has resulted in strict control measures and slowdowns in transportation. It is thought that stainless steel prices in the Chinese domestic market will likely move sideways in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 19,810/mt ($3,111/mt) on Tuesday, March 22, remaining stable compared to that on March 15.
$1 = RMB 6.3664
