SteelOrbis has been informed that as of February 22, ex-China stainless steel coil export prices are at $3,350-3,450/mt FOB, moving up by $100/mt compared to February 15.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved up by RMB 650/mt ($102.4/mt).
Nickel prices at the London Metal Exchange (LME) have continued to move up amid the turbulent international situation. Stainless steel futures prices have indicated a slight downtrend. Since the Winter Olympics have ended, mainstream stainless steel producers have resumed production gradually, while demand has also improved. It is thought that stainless steel prices will move up in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 18,785/mt ($2,958/mt) on Tuesday, February 22, decreasing by RMB 10/mt ($1.6/mt) or 0.05 percent compared to RMB 18,795/mt on February 15.
$1 = RMB 6.3487
