SteelOrbis has been informed that as of January 9 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, moving sideways compared to January 2.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have edged down by RMB 50/mt ($7/mt).
During the given week, nickel prices have seen slight declines. Stainless steel futures prices have moved down, exerting a negative impact on prices in the spot market. Market players have been cautious as regards the future prospects for the stainless steel market. Due to the firm support from the raw material side, stainless steel producers have been willing to bolster their offer prices. It is thought that stainless steel prices in the Chinese domestic market may come under downward pressure in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,630/mt ($1,920/mt) on Tuesday, January 9, decreasing by RMB 200/mt ($28.2/mt) or 1.4 percent compared to January 2.
$1 = RMB 7.101
