SteelOrbis has been informed that as of January 17 ex-China stainless steel coil export prices are at $3,000-3,050/mt FOB, moving sideways compared to January 10.
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 edged up. Stainless steel futures prices have seen certain rises, while transaction activities have been quiet. With the Chinese New Year holiday (January 21-27) due to start soon, many downstream users and traders have been absent from the market. It is thought that stainless steel prices in the Chinese domestic market will remain stable in the coming period.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 17,135/mt ($2,549/mt) on Tuesday, January 17, moving up by RMB 140/mt ($20.8/mt) or 0.8 percent compared to that on January 10.
$1 = RMB 6.7222