SteelOrbis has been informed that as of March 25 ex-China stainless steel coil export prices are at $2,250-2,300/mt FOB, remaining stable compared to March 18.
During the given period, local stainless steel prices from Shanxi Province-based Chinese steelmaker Taigang Stainless Steel Co., Ltd have decreased by RMB 50/mt ($7/mt).
During the given period, nickel prices have seen declines, exerting a negative impact on the stainless steel market. Stainless steel futures prices have moved down, weakening the support for market sentiments. Some market players in the spot market chose to sell at lower prices, while downstream users have held a wait-and-see stance as regards the future trend. It is thought that stainless steel prices in the Chinese domestic market will likely edge down in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 13,355/mt ($1,863/mt) on Tuesday, March 25, decreasing by RMB 105/mt ($14.6/mt) or 0.8 percent compared to March 18, while remaining stable compared to the previous trading day, March 24.
$1 = RMB 7.1788
