SteelOrbis has been informed that as of December 31 ex-China stainless steel coil export prices are at $2,000-2,050/mt FOB, remaining stable compared to December 24.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
Nickel prices at the London Metal Exchange (LME) have fluctuated within a limited range, weakening the support for the local Chinese stainless steel market.
With the year coming to an end, buyers have been unwilling to conclude purchases of stainless steel, while sellers have been reluctant to decreases their offer prices.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,410/mt ($2,065.6/mt) on Tuesday, December 31, increasing by RMB 100/mt ($14.3/mt) or 0.7 percent compared to RMB 14,310/mt on December 24.
$1 = RMB 6.9762
