SteelOrbis has been informed that as of April 16 ex-China stainless steel coil export prices are at $2,300-2,350/mt FOB, moving sideways compared to April 9.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have risen by RMB 50/mt ($7/mt).
During the given week, nickel prices have edged up amid very positive sentiments. Stainless steel futures prices at Shanghai Futures Exchange (SHFE) have fluctuated within a limited range, affecting prices in the spot market. Demand for stainless steel has improved following the Tomb Sweeping Day holiday, exerting a positive impact on prices, though cautious sentiments still prevail among market players as they are not sure whether demand will continue to improve. It is expected that stainless steel prices in the Chinese market will fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,750/mt ($1,937/mt) on Tuesday, April 16, increasing by RMB 10/mt ($1.4/mt) or 0.07 percent compared to April 9.
$1 = RMB 7.1028
