SteelOrbis has been informed that as of September 15, ex-China stainless steel coil export prices are at $2,100-2,150/mt FOB, remaining stable compared to that recorded on September 8.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 50 ($7.3/mt), slightly weakening the support to stainless steel export prices.
Nickel prices at the London Metal Exchange (LME) have rebounded over the past week, while stainless steel futures prices have seen big declines.
During the given week, shortage in ferronickel market has bolstered stainless steel market to some extent. At the same time, as the long National Day holiday is approaching, market players expect that downstream users may replenish their stocks, which will exert a positive impact on stainless steel market.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 14,400/mt ($2,111.4/mt) on Tuesday, September 15, decreasing by RMB 480/mt ($70.4/mt) or 3.2 percent compared to RMB 14,880/mt on September 8.
$1 = RMB 6.8222
