SteelOrbis has been informed that as of April 15 ex-China stainless steel coil export prices are at $2,150-2,200/mt FOB, moving sideways compared to April 8.
During the given period, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have increased by RMB 100/mt ($14/mt).
During the given period, nickel prices have seen a V-shaped wide fluctuating trend amid the impact of the tariff issue between the US and China. When the US suspended tariffs on 75 economies for 90-days, this provided support for market sentiments later in the week. Bearish sentiments have prevailed among market players in the Chinese stainless steel market, exerting a negative impact on prices. It is thought that stainless steel prices in the Chinese domestic market will likely fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 12,860/mt ($1,786/mt) on Tuesday, April 15, increasing by RMB 85/mt ($11.8/mt) or 0.66 percent compared to April 8, while increasing by 0.47 percent compared to the previous trading day, April 14.
$1 = RMB 7.2096