SteelOrbis has been informed that as of January 21 ex-China stainless steel coil export prices are at $2,200-2,250/mt FOB, remaining stable compared to January 14.
During the given week, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have moved sideways.
During the given week, nickel prices have fluctuated within a limited range. Since the Chinese New Year holiday (January 28-February 4) is drawing closer and closer, market players have mostly held a wait-and-see stance as regards the future prospects for the stainless steel market. Demand will be quiet in the near future. It is thought that stainless steel prices in the Chinese domestic market will continue their stable trend in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,165/mt ($1,836/mt) on Tuesday, January 21, decreasing by RMB 20/mt ($2.8/mt) or 0.15 percent compared to January 14, while up 0.27 percent compared to the previous trading day, January 20.
$1 = RMB 7.1703
