SteelOrbis has been informed that as of April 22 ex-China stainless steel coil export prices are at $2,150-2,200/mt FOB, remaining stable compared to April 15.
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 rises amid Indonesia’s PNBP nickel ore tax policy changes, while cautious sentiments have prevailed among buyers. Stainless steel futures prices in China have moved down, exerting a negative impact on prices in the spot market. Inventory levels of stainless steel have risen, weakening the support for prices. However, there may be some stock replenishment ahead of the Labor Day holiday (May 1-5), which will bolster stainless steel prices to a certain degree. It is thought that stainless steel prices in the Chinese domestic market will likely move sideways in the coming week.
Stainless steel futures at the Shanghai Future Exchange closed at RMB 12,690/mt ($1,762.5/mt) on Tuesday, April 15, decreasing by RMB 170/mt ($23.6/mt) or 1.3 percent compared to April 15, while decreasing by 0.63 percent compared to the previous trading day, April 21.
$1 = RMB 7.2074
