SteelOrbis has been informed that as of December 21 ex-China stainless steel coil export prices are at $3,050-3,150/mt FOB, moving sideways compared to December 14.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have declined by RMB 250/mt ($39.2/mt).
Nickel prices at the London Metal Exchange (LME) have moved down. The limited supply of stainless steel has bolstered prices, while demand has been sluggish. Cautious sentiment has prevailed among market players. Meanwhile, traders in the local market have been seeking to sell at lower prices to bring in cash and boost their sales towards the end of the year.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 16,095/mt ($2,527/mt) on Tuesday, December 21, increasing by RMB 70/mt ($11/mt) or 0.44 percent compared to RMB 16,025/mt on December 14.
$1 = RMB 6.3729
