SteelOrbis has been informed that as of April 2 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, moving sideways compared to March 26.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have remained stable.
During the given week, nickel prices have fluctuated within a limited range amid improved market sentiments. Stainless steel futures prices have edged up, exerting a positive impact on prices in the spot market. However, the supply of stainless steel has increased slightly amid the prevailing cautious sentiments among market players. It is expected that stainless steel prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,455/mt ($1,895/mt) on Tuesday, April 2, increasing by RMB 125/mt ($17.6/mt) or 0.94 percent compared to that on March 26.
$1 = RMB 7.0957
