SteelOrbis has been informed that as of April 13 ex-China stainless steel coil export prices are at $2,350-2,400/mt FOB, moving sideways compared to that recorded on April 6.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have remained stable.
Nickel prices at the London Metal Exchange (LME) have moved on a fluctuating trend within a limited range at the low level in the given week.
During the given week, the sufficient supply of stainless steel exerted a negative impact on its prices. Meanwhile, nickel ore prices have moved on a steady trend following previous declines. At the same time, stainless steel futures prices have moved down over the past few trading days, weakening the support to its prices in spot market.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,965/mt ($2,134/mt) on Tuesday, April 13, decreasing by RMB 345/mt ($53/mt) or 2.4 percent compared to RMB 14,310/mt on April 6.
$1 = RMB 6.5454
