SteelOrbis has been informed that as of January 16 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to January 9.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have edged up by RMB 100/mt ($14/mt).
During the given week, nickel prices have edged down slightly. Stainless steel futures prices have moved up, bolstering market sentiments to a certain degree. Some market players are preparing for the long holiday in a few weeks’ time, which has contributed to the prevailing cautious sentiments among market players. It is thought that stainless steel prices will follow a fluctuating trend in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,895/mt ($1,957/mt) on Tuesday, January 16, increasing by RMB 265/mt ($37.3/mt) or 1.94 percent compared to that on January 9.
$1 = RMB 7.1134
