SteelOrbis has been informed that as of December 24 ex-China stainless steel coil export prices are at $2,200-2,250/mt FOB, remaining stable compared to December 17.
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, stainless steel prices in the Chinese domestic market have moved sideways amid the prevailing cautious sentiments among market players. Though stainless steel futures prices have risen, the spot market is maintaining its trend: buyers have preferred to conclude purchases at lower prices. It is thought that stainless steel prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,030/mt ($1,812/mt) on Tuesday, December 24, increasing by RMB 45/mt ($6.3/mt) or 0.35 percent compared to December 17, while up 0.54 percent compared to the previous trading day, December 23.
$1 = RMB 7.1876